Jefferies Comments On WellPoint Management Meeting

According to Jefferies, WellPoint WLP expects to have deployable parent company cash of $1.3bn by 2011YE, and has flexibility to issue ~$5bn of debt while remaining in its debt-to-cap range. Jefferies said that it hosted WLP's VP of Investor Relations, Michael Kleinman, at meetings in Boston. “Overall, discussions reaffirmed our positive outlook on the stock as cost trends remain in-check, 2012 EPS growth is feasible even on the 2011 guidance raise, and WLP's strong cash provides opportunities for M&A or incremental buybacks.” WellPoint closed yesterday at $77.54.