Centene price target raised to $58 from $45 at Oppenheimer

Oppenheimer raised the firm’s price target on Centene (CNC) to $58 from $45 and keeps an Outperform rating on the shares. The firm says Centene’s Q1 results provided a very positive start to 2026, as the company overcame the previously-revealed pick-up in Marketplace utilization to top internal estimates by 50c/share and $1.00/share vs Street estimate. The company also raised full year 2026 EPS guidance, but still assumes significant conservatism around Marketplace margins and Medicaid, which does not reflect Q1 outperformance or the further potential improvement opportunities, adds Oppenheimer.