Piper Jaffray analyst Sarah James views the Medicaid focused managed care names she covers, namely Centene (CNC), Molina Healthcare (MOH) and WellCare (WCG), as undervalued. "Rapidly" improving sentiment should drive multiple expansion over the next three months, James tells investors in a research note. She believes Medicaid managed care organizations have the ability to reach 10%-15% revenue growth through new state expansion plans and long-term service and support carve-ins. Centene is her top pick in the space with an Overweight rating and $67 price target.