Goldman Sachs Reports On 2Q For WLP

Goldman Sachs, following the release of 2Q results, is lowering its price target from $99 to $85 but is maintaining its Neutral rating on WellPoint WLP. In its report, Goldman Sachs writes, “Following 2Q, we lower 2011E EPS to $6.95 from $7.50 to reflect less upside for the year. We also lower our 2012-2013 EPS by $0.40 for each year, to $8.00 and $9.00, respectively. This reflects our modestly lower view of company execution following 2011 headwinds in California. We reduce our 12-month price target to $85 from $99.” WLP closed at $68.70 yesterday.