Deutsche Bank upgraded Centene (NYSE:CNC) to Buy from Hold on Tuesday and raised its price target to $80 from $53.
The new price target reflects 12 times the firm’s 2028 earnings per share estimate of $6.70 for the health insurer.
The stock currently trades at $59.15, up nearly 70% over the past six months and near its 52-week high of $62.20.
Deutsche Bank reduced its target multiple to 12 times from 15 times to account for the additional year in its valuation timeframe.
The firm cited the strength of Centene’s earnings recovery expected beyond 2027 as the reason for the discount adjustment.
According to Bond.az analysis, Centene remains undervalued at current levels.
In other recent news, Centene reported strong first-quarter 2026 earnings, beating consensus estimates. Multiple analysts raised price targets.
This article was generated with AI support.
