Centene price target raised to $38 from $28 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Centene (CNC) to $38 from $28 and keeps an Equal Weight rating on the shares. Last week’s Stars results were “encouraging” for the sector and Managed Care Organization sentiment has “improved slightly,” but there is “still a lot to prove” as the focus turns to utilization and early reads on 2026, the analyst tells investors in a Q3 earnings preview for the group.