Centene price target lowered to $65 from $90 at Cantor Fitzgerald

Cantor Fitzgerald analyst Sarah James lowered the firm’s price target on Centene (CNC) to $65 from $90 and keeps an Overweight rating on the shares. Even without the Health Insurance Exchange risk pool update, Cantor saw core Q2 as having risk for Centene, the analyst tells investors in a research note. The firm now assumes even greater pressure on Q2 and the year, and while it continues to like Centene’s core assets, says the path to turnaround has now hit multiple products and near-term trajectory is less certain.