BofA analyst Kevin Fischbeck downgraded Centene to Underperform from Neutral with a price target of $85, down from $100, on what he sees as a worse risk/reward heading into redeterminations. The trajectory Centene has outlined implies a 13% EPS compound annual growth rate through 2025, but consensus "already assumes near-perfect execution" and he sees "more to lose than to gain in upcoming RFPs" given mounting headwinds, Fischbeck tells investors.
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Published first on TheFly
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