In a recent update, UBS analyst A.J. Rice downgraded Centene (CNC, Financial) from a "Buy" rating to a "Neutral" rating. This shift in evaluation reflects a significant change in Centene's investment outlook by the financial services firm.
The analyst also adjusted its price target for Centene (CNC, Financial), reducing it from $80.00 USD to $45.00 USD. This adjustment represents a -43.75% change in the target price, indicating a more cautious stance on the company's expected market performance.
The revision in both the rating and the price target by UBS highlights a reassessment of future growth prospects for Centene (CNC, Financial) compared to previous evaluations. Investors might take this information into account when considering their portfolio strategies involving the healthcare company.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 17 analysts, the average target price for Centene Corp (CNC, Financial) is $74.32 with a high estimate of $91.50 and a low estimate of $61.00. The average target implies an upside of 31.20% from the current price of $56.65. More detailed estimate data can be found on the Centene Corp (CNC) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, Centene Corp's (CNC, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Centene Corp (CNC, Financial) in one year is $96.63, suggesting a upside of 70.57% from the current price of $56.65. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Centene Corp (CNC) Summary page.
