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Fly News Breaks for April 26, 2018
MGLN
Apr 26, 2018 | 15:23 EDT
Jefferies analyst David Styblo said he would be a buyer of Magellan Health shares amid the 27% selloff seen in the stock since Tuesday, calling the decline an overreaction to the Florida Medicaid loss and guidance cut. The lower guidance is related to year-one start-up costs for Virginia and Arizona and does not impact his outlook on 2019, Styblo tells investors. He lowered his price target on Magellan shares to $108 from $120 but maintains a Buy rating on the stock.
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