Piper Jaffray analyst Sarah James raised her price target for Molina Healthcare to $165 and keeps an Overweight rating on the shares. Puerto Rico finalized the auto assignment process for the $2.2B contract starting November 1, and while Molina is is not confirming the impact, the analyst believes it could be a $150M revenue headwind for the company. Nonetheless, James feels confident in the company’s Q3 results. She believes much of the turnaround success demonstrated in Q2 “will continue to have lasting impacts such as network design and contracting and admin. efficiency.”
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.