Centene (CNC) PT Raised to $115 at Jefferies; Strong Growth Momentum

Jefferies raised its price target on Centene (NYSE: CNC) to $115.00 (from $112.00) while maintaining a Buy rating following the company's investor day.

Analyst David Windley said the company should produce attractive LT revenue growth driven via organic wins and M&A. They also see a path to expand margins beyond 2% after 2018, with greater SG&A efficiency.

"All in, we expect ~15% EPS growth from 2017-19, which doesn't contemplate upside from tax reform," Windley commented.

FY 2018 EPS goes from $5.51 to $5.83.

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