Centene price target lowered to $41 from $47 at Mizuho

Mizuho lowered the firm’s price target on Centene (CNC) to $41 from $47 and keeps a Neutral rating on the shares. The firm updated the company’s model post the Q4 report. Centene shares were down 14% following the company’s comments at a competitor’s conference yesterday, the analyst tells investors in a research note. Mizuho cites a more conservative valuation multiple pending greater clarity on the potential risk shifts if health insurance exchange dis-enrollment is worse than expectations for the target cut.