Cantor downgrades Centene on healthcare exchange uncertainty

As previously reported, Cantor Fitzgerald downgraded Centene (CNC) to Neutral from Overweight with a price target of $38, down from $65. The firm cites uncertainty in the healthcare exchange and Medicaid markets for the downgrade. Cantor cut estimates on Centene to reflect the company’s new guidance. Centene has a heavier mix of earnings in the healthcare exchange market, which faces the greatest level of macro uncertainty, the analyst tells investors in a research note.