UPDATE: JP Morgan Raises PT on Centene To $39

JP Morgan has published a research report on Centene Corporation CNC after the company reported its 2Q earnings. In the report, JP Morgan writes, "Post the 2Q report, we are updating our earnings outlook. Our 2011E is unchanged at $2.20, as we offset 2Q upside with rate challenges and start-up costs for KY and LA contract awards in the back half of the year." JP Morgan maintains its Neutral rating and has raised the price target from $38 to $39. Centene Corporation closed Friday at $32.81.