Wedbush Raises PT On AGP To $71

Wedbush is raising its price target on Amerigroup Corp. AGP from $64 to $71 and is maintaining its Outperform rating. In the report, Wedbush states, “Our Increased Estimates Reflect our Belief That Utilization and Flu Trends Remain Moderate. We also see potential upside from updated enrollment numbers from March CMS data and a resulting modest improvement in leveraging overhead expense… We view AGP as an attractive way to access Medicaid expansion.” AGP closed at $62.06 yesterday.