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.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNC:
- Closing Bell Movers: Centene down 24% after pulling 2025 guidance
- Centene down 21% at $44.98 after withdrawing guidance
- Centene withdraws 2025 GAAP, adjusted EPS guidance
- Wells says OBBBA incrementally positive for managed care, uncertainty still high
- Supreme Court keeps element of Obamacare preventive care, Reuters reports