Research Analysts’ Weekly Ratings Changes for WellPoint (WLP)
WellPoint (NYSE: WLP) was the recipient of a ratings changes during the seven days:
- WellPoint had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co..
- WellPoint had its “hold” rating reaffirmed by analysts at Jefferies Group.
- WellPoint was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $73.00 price target on the stock, up previously from $72.00.
- WellPoint had its “outperform” rating reaffirmed by analysts at Cowen.
- WellPoint had its price target raised by analysts at JPMorgan Chase from $60.00 to $65.00. They now have a “neutral” rating on the stock. They wrote, “WellPoint Chairman and CEO Angela Braly resigned earlier tonight amid increasing investor concerns around the strategy and execution of the company over the last several quarters culminating with the lowering of guidance in 2Q’12. John Cannon, the company’s executive VP, Corporate Secretary and Chief Public Affairs Officer will serve as interim CEO and has no plans to consider the permanent position as the Board shifts into search mode and considers both internal and external candidates for the role. We believe the ‘right’ CEO would be someone who could guide the company through the upcoming healthcare reform driven shift in the individual and small group landscape in 2014 with the implementation of exchanges and guaranteed issue while also bringing much needed improvement in the consumer segment. In terms of management outside of Ms. Braly the Board stated it believes that ‘the remaining executive team is dynamic and strong, with great potential to drive WellPoint’s future success’. From a stock perspective, getting the right person for the job could be worth a full turn in multiple for WellPoint and for now we estimate the stock will be up around half that (5-8%) on the Board’s clear willingness to act in the best interest of shareholders and we increase our price target to $65 (from $60).”
Shares of WellPoint, Inc. traded up 0.95% during mid-day trading on Friday, hitting $60.29. WellPoint, Inc. has a one year low of $52.52 and a one year high of $74.73. The company has a market cap of $19.605 billion and a P/E ratio of 8.18.
WellPoint, Inc. (WellPoint) is a health benefit company in terms of medical membership in the United States, serving 34.