FMP
Centene Corporation’s Investor Day Review
Dec 19, 2022(Last modified: Dec 19, 2023)
Oppenheimer analysts provided a review on Centene Corporation (NYSE:CNC) following the company’s Investor Day, where it provided its fiscal 2023 guidance ($6.25-$6.40 vs Street’s estimate of $6.34), reaffirmed its prior 2024 comments and issued a long-term EPS growth target of 12-15%.
The company also discussed a range of operational initiatives, including the MA Stars/profits rebound, the robust ACA/exchanges growth trends and Medicaid re-determinations mitigation. Furthermore, management discussed how Washington should remain favorable as gridlock will likely prevail at the federal level with states taking the policy reins.
Post-investor day, Oppenheimer reiterated its 2022/2023/2024 EPS estimates of $5.75/$6.34/$7.27. With the company's long-term targets becoming increasingly tangible, analysts believe the stock looks highly compelling at current prices.
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