In a report published Friday, Sterne Agee analyst Brian Wright initiated coverage on WellCare Health Plans WCG with an Underperform rating and $76.00 price target.
In the report, Sterne Agee noted, “We believe there is a certain element of acquisition expectations embedded in WellCare shares and are concerned that peers present more accretive potential targets. We see less potential for EPS upside in '14 and '15 than peers as premium growth continues to outpace reserve growth despite three quarters in a row of unfavorable prior period reserve development.”
WellCare Health Plans closed on Thursday at $75.35.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in