Cantor Fitzgerald analyst Steven Halper maintained a Buy rating on Centene Corp (NYSE: CNC) yesterday and set a price target of $125. The company’s shares closed yesterday at $123.50, close to its 52-week high of $126.04.
“We rate Centene Corporation (CNC) DCF-based price target of $125 per share. As of right now, it remains to be seen if Congress can pass any changes to the ACA. Any potential changes in Medicaid funding should result in states having more flexibility in running their respective programs and increasing the use of managed care. Accordingly, we continue to view Medicaid as a good growth opportunity. At the same time, CNC is building its Medicare Advantage business, increasing its footprint in individual exchange markets (and doing it profitably) and increasing its specialty offerings.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 20.2% and a 71.6% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Centene Corp has an analyst consensus of Strong Buy, with a price target consensus of $129.67.
Centene Corp’s market cap is currently $22.04B and has a P/E ratio of 21.46. The company has a Price to Book ratio of 2.94.
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Centene Corp. engages in the provision of programs and services to government sponsored healthcare programs. It operates through the Managed Care and Specialty Services segments. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.