Barclays analyst Andrew Mok lowered the firm’s price target on Centene (CNC) to $33 from $45 and keeps an Equal Weight rating on the shares. The firm adjusted estimates and targets in the managed care and healthcare facility group following a “volatile” Q2 earnings season. Group valuations have increased recently, which may be a sign that investor sentiment and estimates have bottomed out, the analyst tells investors in a research note. From here, Barclays sees a number of potential catalysts including September budget deals, final pricing for Medicare Advantage and Affordable Care Act plans and Medicare Advantage star ratings for the 2027 plans. Relative to estimates, the firm believes UnitedHealth (UNH) and CVS Health (CVS) offer the most near-term upside while Molina Healthcare (MOH) has the most downside risk.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNC:
- Centene call volume above normal and directionally bullish
- ACA Rule Pause Offers Relief to UnitedHealth (UNH) and Peers Facing Rising Costs
- CNC Lawsuit Alert! Class Action Lawsuit Against Centene Corporation
- Centene recommends stockholders reject TRC Capital’s mini-tender offer
- Early notable gainers among liquid option names on August 18th