UPDATE: Sterne Agee Initiates Coverage On WellCare Health Plans As Potential Partners Could Dance Elsewhere
In a report published Friday, Sterne Agee analyst Brian Wright initiated coverage on WellCare Health Plans (NYSE: WCG) with an Underperform rating and $76.00 price target.
In the report, Sterne Agee noted, “We believe there is a certain element of acquisition expectations embedded in WellCare shares and are concerned that peers present more accretive potential targets. We see less potential for EPS upside in '14 and '15 than peers as premium growth continues to outpace reserve growth despite three quarters in a row of unfavorable prior period reserve development.”
WellCare Health Plans closed on Thursday at $75.35.
Latest Ratings for WCG
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Dec 2019 | Wells Fargo | Downgrades | Overweight | Equal-Weight |
| Nov 2019 | SunTrust Robinson Humphrey | Maintains | Buy | |
| Sep 2019 | Stephens & Co. | Downgrades | Overweight | Equal-Weight |
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Posted-In: Brian Wright Sterne AgeeAnalyst Color Initiation Analyst Ratings
