Wells Fargo Maintains Equal-Weight Rating for Centene: Here's What You Need To Know

Wells Fargo has decided to maintain its Equal-Weight rating of Centene CNC and lower its price target from $79.00 to $71.00.

Shares of Centene are trading up 1.25% over the last 24 hours, at $64.95 per share.

A move to $71.00 would account for a 9.31% increase from the current share price.

About Centene

Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. Centene served 23 million medical members as of September 2022, mostly in Medicaid (70% of membership), the individual exchanges (9%), Medicare Advantage (7%), and the balance in Tricare (West region), correctional facility, and commercial plans. The company also serves 4 million users through the Medicare Part D pharmaceutical program.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.