As previously reported, Wolfe Research upgraded WellCare to Outperform from Peer Perform. Analyst Justin Lake recommends taking advantage of the recent pullback and raised estimate to reflect the Aetna PDP acquisition and Medicaid margin improvement. Lake lowered WellCare's price target to $263 from $293, but said the company offers unique earnings growth visibility and potential upside to estimates in several areas including capital deployment and optionality should the company win a large Medicaid contract management has acknowledged bidding on.