Centene price target lowered to $84 from $89 at Truist

Truist lowered the firm’s price target on Centene (CNC) to $84 from $89 but keeps a Buy rating on the shares. The company offered an upbeat investor day presentation highlighting attractive opportunity in its complementary core business lines, additional growth avenues, and meaningful embedded earnings, while the management’s initial FY25 guidance was solid and Centene’s long-term targets were reaffirmed, the analyst tells investors in a research note. The reduced price target reflects a more cost focused governmental backdrop post election, though the firm remains bullish on the company’s core trends, Truist added.