Centene upgraded to Buy from Neutral at UBS

UBS upgraded Centene (CNC) to Buy from Neutral with a price target of $80, up from $79. The firm sees the stock as “overly discounted,” saying Centene has offered a “clear and conservative view” on the headwinds related to the possible loss of enhanced subsidies related to the public exchange after 2025. Management also laid out other building blocks related to Medicaid and Medicare that creates a path toward $8.00 in 2026 earnings per share, the analyst tells investors in a research note. UBS sees the stock as “too cheap to ignore.”