Wells Fargo analyst Stephen Baxter lowered the firm’s price target on Molina Healthcare (MOH) to $410 from $440 and keeps an Equal Weight rating on the shares. The firm notes Florida intends to award Medicaid contracts to Centene (CNC), Elevance Health (ELV), Humana (HUM) and two provider-run plans. Clearly the most positive for Centene given recent disappointing RFP performance and likely most disappointing for Molina Healthcare given expectation for share gains, Wells says.
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