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Fly News Breaks for March 4, 2020
Mar 4, 2020 | 06:42 EDT
Citi analyst Ralph Giacobbe opened a "positive catalyst watch" on shares of Centene saying the weaker than expected 2020 guidance coupled with the Super Tuesday primary outcome are "somewhat of a clearing event for the stock." The guidance is no worse than what has been previously communicated and has potential upside given better interest cost than initially assumed, Giacobbe tells investors in a research note. Moreover, the Democratic Party coalescing and providing some momentum around Joe Biden is disproportionally favorable to Centene given Biden's approach to building on the Affordable Care Act, adds the analyst. He keeps a Buy rating on the shares with a $72 price target.
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