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Fly News Breaks for July 27, 2016
CNC
Jul 27, 2016 | 08:26 EDT
Leerink analyst Ana Gupte sees Centene's selloff after Q2 results as "overdone." The analyst notes that while the company's Q2 offered a beat and raise of 20c on largely in-line revenues, the PDR of $300M on top of $90M was a "major negative surprise" for investors. Nonetheless, Gupte points out that downside to 2017 is better than feared based on her estimation and says the company's growth story continues. Leerink has an Outperform rating and $80 price target on the shares.
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