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Fly News Breaks for June 3, 2016
MGLN
Jun 3, 2016 | 08:59 EDT
Leerink analyst Ana Gupte raised her price target for Magellan Health to $60 from $50 after a good quarter with a "meaningful" top and bottom line beat. While contract loss in Healthcare remains a downside risk, the company's Pharmacy segment is an offset with less risk to earnings achievability, the analyst tells investors in a research note, adding that the purchase of the Armed Forces Services Corporation Business also offers upside in 2016 and into 2017. Gupte reiterates a Market Perform on the shares.
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