Jefferies Reports Buying Opportunity On WellPoint

According to Jefferies, WellPoint WLP uptick in Senior medical expenses and shading down the outlook on Medicaid overshadowed an otherwise fundamentally good 2Q. Jefferies said that shares traded off 6.6% yesterday (only partially deserved), and are down 13% this month. “We think the July sell-off is overdone and creates a buying opportunity.” WellPoint closed yesterday at $68.70.