UBS analyst AJ Rice downgraded Centene (CNC) to Neutral from Buy with a price target of $45, down from $80, following the company withdrawing its 2025 guidance. The firm’s updated 2025 and 2026 EPS estimates of $3.25 and $4.50 represent a 55% decline and 45% decline, respectively, as the company’s near term earnings power has been significantly reduced with the unexpected risk adjustment results in Marketplace and persistent Medicaid cost trends, the analyst tells investors.
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