Wells Fargo Believes Centene Corp (CNC) Won’t Stop Here


In a report released yesterday, Peter Costa from Wells Fargo maintained a Buy rating on Centene Corp (NYSE: CNC). The company’s shares closed on Friday at $123.77, close to its 52-week high of $126.04.

According to TipRanks.com, Costa is a 4-star analyst with an average return of 18.6% and a 83.8% success rate. Costa covers the Services sector, focusing on stocks such as WellCare Health Plans, Acadia Healthcare, and Universal Health.

Currently, the analyst consensus on Centene Corp is Strong Buy and the average price target is $136.33, representing a 10.1% upside.

In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $138 price target.

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Centene Corp’s market cap is currently $21.88B and has a P/E ratio of 21.30. The company has a Price to Book ratio of 2.92.

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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.

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