JP Morgan On Centene's 2011 Outlook

JP Morgan has published a research report on Centene Corp. CNC after the company issued its 2011 outlook this morning. In the report, JP Morgan writes "This morning, CNC issued its 2011 outlook, the key metrics mostly in line, EPS at $2.00 to $2.10 compared with our $2.10 and consensus of $2.05. In addition the guidance is consistent with previously expressed parameters (provided with the 3Q report) for revenue to be up over 15%, at $4.9-$5.1bn, and MCR to tick up to 84-85%, while the top end modestly lower than previous view for 84-86%. No update given on rate increases, with previous expectation of low-single-digit increases." JP Morgan maintains its Neutral rating on Centene Corporation, which closed yesterday at $24.58.