Centene price target lowered to $73 from $90 at Wells Fargo

Wells Fargo analyst Stephen Baxter lowered the firm’s price target on Centene (CNC) to $73 from $90 and keeps an Overweight rating on the shares as the firm updates Managed Care estimates post-election. All estimates assume the expiration of enhanced exchange subsidies for 2026, Wells notes. The firm believes Medicare Advantage risk/reward improves with Republicans, although areas of concern still exist.