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Fly News Breaks for June 14, 2017
MOH
Jun 14, 2017 | 06:45 EDT
Leerink analyst Ana Gupte raised her price target for Molina Healthcare shares to $80 and remains "bullish" on the name after a call with CFO and interim CEO Joseph White. The analyst says White aligned with her view that the upcoming re-procurement of State Medicaid contracts "does not pose meaningful downside risk." Further, she learned the CEO search is making good progress with an "attractive slate" of senior executives with Managed Care experience. The analyst keeps an Outperform rating on Molina.
News For MOH From the Last 2 Days
MOH
Mar 28, 2024 | 06:51 EDT
BofA downgraded Molina Healthcare (MOH) to Underperform from Neutral with a $439 price target. The firm, which is concerned that Molina and the Medicaid industry more broadly are likely to face rate pressure after a period of elevated margins, sees a less attractive risk/reward for Molina compared to other insurers the firm covers, the analyst tells investors. Molina is now trading roughly at parity with the firm's top pick in the space, UnitedHealth (UNH), compared to a 22% discount that had been seen over the last five years, helping to underscore the firm's view that "sentiment for Medicaid is nearing a top just at a time when Medicare is reaching a bottom," the analyst added.