Centene downgraded to Hold from Buy at TD Cowen

TD Cowen analyst Ryan Langston downgraded Centene (CNC) to Hold from Buy with a price target of $33, down from $73. The firm cites health insurance exchange uncertainty for the downgrade. The lack of clarity for a recovery in 2026 across the company’s segments warrant a downgrade despite Centene’s low valuation, the analyst tells investors in a research note.TD says that while Centene is now trading at all-time lows, a lack of clarity across its service lines drive its downgrade.