JP Morgan On Centene's 2011 Outlook

JP Morgan has published a research report on Centene Corp. (NYSE: CNC) after the company issued its 2011 outlook this morning.

In the report, JP Morgan writes "This morning, CNC issued its 2011 outlook, the key metrics mostly in line, EPS at $2.00 to $2.10 compared with our $2.10 and consensus of $2.05. In addition the guidance is consistent with previously expressed parameters (provided with the 3Q report) for revenue to be up over 15%, at $4.9-$5.1bn, and MCR to tick up to 84-85%, while the top end modestly lower than previous view for 84-86%. No update given on rate increases, with previous expectation of low-single-digit increases."

JP Morgan maintains its Neutral rating on Centene Corporation, which closed yesterday at $24.58.