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Fly News Breaks for September 26, 2016
MGLN
Sep 26, 2016 | 06:03 EDT
Jefferies analyst David Styblo views Magellan Health as "significantly undervalued" following the stock's 25% pullback since late July. The biggest investor concern centers on the steeper than usual earnings ramp in the second half of the year in order to achieve guidance, Styblo tells investors in a research note. He believes Magellan will achieve its guidance and sees 40% upside in the shares. The analyst lowered his price target for Magellan to $76 from $86 and keeps a Buy rating on the shares.
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