Centene price target lowered to $61 from $64 at Jefferies

Jefferies lowered the firm’s price target on Centene (CNC) to $61 from $64 and keeps a Hold rating on the shares. Centene “printed the most encouraging 1Q HIX results among its peers,” says the analyst in reference to the Health Insurance Exchange business. However, management flagged core utilization pressures and “meaningful effort is required to preserve the EPS guide,” the analyst tells investors in a post-earnings note.