Centene (CNC) shares slumped 39% in recent Wednesday trading after several analysts cut their price targets on the stock after the company withdrew 2025 guidance.
JP Morgan downgraded Centene to neutral from overweight and cut its price target to $48 from $75. UBS downgraded the stock to neutral from buy and slashed its price target to $45 from $80.
Cantor Fitzgerald, Barclays, Jefferies and Deutsche Bank also reduced their price targets on Centene.
The health insurer said late Tuesday that market growth in 22 of 29 marketplace states trails expectations, contributing to the decision to withdraw its full-year outlook.
Price: 34.65, Change: -22.00, Percent Change: -38.83
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