Wells Fargo analyst Stephen Baxter lowered the firm’s price target on Centene (CNC) to $72 from $76 and keeps an Overweight rating on the shares. Q4 results were messy, with higher Medicaid MLR creating a more difficult jump-off point heading into 2025, the firm says. Earnings power recovery remains a significant opportunity but visibility to pacing and clarity on political backdrop will each take some time, adds Wells.
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