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Fly News Breaks for February 5, 2020
CNC
Feb 5, 2020 | 08:01 EDT
Citi analyst Ralph Giacobbe raised his price target for Centene to $72 from $65 and maintains a Buy rating on the shares post the company's Q4 results. The analyst also introduced a 2022 standalone adjusted earnings per share estimate of $6.00, which assumes 12% earnings growth. He believes the stock deserves a higher multiple given Centene's "strong" competitive positioning within Medicaid, anticipated targeted growth through Medicare Advantage and exchanges, and recently completed WellCare transaction.
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