BofA analyst Joanna Gajuk lowered the firm’s price target on Centene (CNC) to $52 from $65 and keeps a Neutral rating on the shares. Centene withdrew its 2025 guidance on higher acuity in Marketplace population in its markets and higher than expected Medicaid trend, which is a negative read through to other MCOs, the analyst tells investors in a research note. The firm notes that Oscar Health (OSCR), Centene, and Molina Healthcare (MOH) are the most exposed to exchanges, while Molina, Elevance Health (ELV), and UnitedHealth (UNH) are most exposed to Medicaid.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNC:
- Centene price target lowered to $45 from $65 at Barclays
- Centene’s Financial Outlook Challenged by Marketplace and Medicaid Trends, Hold Rating Issued
- Centene price target lowered to $65 from $90 at Cantor Fitzgerald
- Centene downgraded to Neutral from Overweight at JPMorgan
- Centene’s Financial Outlook: Hold Rating Amid Revenue Headwinds and Regulatory Uncertainties