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Investing.com - Truist Securities raised its price target on Centene (NYSE:CNC) stock to $39.00 from $35.00 on Friday, while maintaining a Buy rating on the healthcare company. The stock, currently trading at $34.48, has shown remarkable momentum with a 17.6% gain over the past week, according to InvestingPro data.
The price target increase follows Centene’s recent 8-K filing and conference presentation, where management reaffirmed its fiscal year 2025 adjusted earnings per share guidance of approximately $1.75.
Truist Securities cited constructive commentary around second-half Medicaid margin improvement, Marketplace rate refiling, and Stars ratings as factors supporting its bullish stance on the stock.
The firm acknowledged ongoing areas of uncertainty in the healthcare environment, specifically mentioning enhanced Advanced Premium Tax Credits (eAPTCs) as one such factor.
The higher price target reflects Truist Securities’ application of a higher assumed multiple for Centene stock, according to the firm’s analysis.
In other recent news, Centene Corporation reaffirmed its 2025 earnings guidance, projecting approximately $1.75 in adjusted diluted earnings per share, surpassing the consensus estimate of $1.64. This announcement was made ahead of the company’s participation at the Deutsche Bank 2025 Healthcare Summit. Barclays maintained an Equalweight rating and a $33.00 price target on Centene, citing positive Medicaid results and a favorable Affordable Care Act trend. Meanwhile, Cantor Fitzgerald held its Neutral rating with a $38.00 price target, noting Centene’s proposed rate increases in 29% of states where it operates. Additionally, Centene announced the resignation of Director Wayne S. DeVeydt, reducing the board size to ten members. The company clarified that his departure was not due to any disagreement with the board. In a separate development, eHealth, Inc. appointed Derrick Duke as the new CEO, effective September 18, 2025, as Fran Soistman retires but remains on the board and as an executive advisor through the end of the year.
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