WellCare posts
FeedPosted May 20th 2009 10:30AM by Laurie Pasternack (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Home Depot (HD), McDonald's (MCD), Netflix, Inc. (NFLX), Nokia Corp. (NOK), Colgate-Palmolive (CL), Procter and Gamble (PG), Lowe's Cos (LOW), BP p.l.c. ADS (BP), Analyst initiations
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Analyst upgrades:
- Barclays believes Procter & Gamble's (NYSE: PG) portfolio mix provides better leverage to stabilizing macro trends. The firm upgraded shares to Overweight from Equal weight and raised its target to $60 from $56. Note the firm downgraded Colgate (NYSE: CL) to Equal Weight from Overweight.
- Deutsche Bank upgraded McDonald's (NYSE: MCD) to Buy from Hold as it finds the risk/reward on shares compelling at current levels and sees upcoming catalysts from McCafe and easing commodity pressures. The firm raised its target price to $65 from $60.
- FBR Capital upgraded Talbots (NYSE: TLB) to Outperform from Market Perform to reflect an attractive risk/reward, reduced risk of a bankruptcy, and merchandise improvements. The firm raised its target price to $4 from $2.
- Nokia (NYSE: NOK) was upgraded to Buy from Hold at Deutsche Bank.
- Analog Devices (NYSE: ADI) was upgraded to Neutral from Underperform at Baird.
Continue reading Analyst upgrades, downgrades and initiations: PG, MCD, TLB, CL, JTX, HD, IPCM, MYRG and NFLX
Posted Nov 6th 2007 1:48PM by Zac Bissonnette (RSS feed)
Filed under: Newspapers, Scandals, Stocks to Sell
Shares of
WellCare Health Plans (NYSE:
WCG) rebounded more than 21% on Monday, after tanking for the past couple weeks on news that federal agents raided the company's headquarters. Reports have suggested that the raid was related to the company's overstating of the amount it spent on mental health services, thereby defrauding the government out of millions of dollars. For now, these are only rumors and allegations.
The Wall Street Journal's "Heard on the Street"
column (subscription required) suggests that the plunge may have been spurred in part by quant funds dumping, and could even be an opportunity. Of course no one knows what will happen, but this is not a line of logic that I like.
True, the concrete damages could be limited. But what the issue does is raise grave questions about the company's management, internal controls, and corporate culture. There is no finite value that you can put on that, and owning a company where those things are in question is probably a mistake.
There could be more skeletons to be unearthed here, so I wouldn't go diving into WellCare. Uncertainty can spell opportunity, but not when it involves the integrity of the company's management.
Posted Nov 5th 2007 10:50AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, MasterCard Inc'A' (MA)
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MOST NOTEWORTHY: WellCare Health, Beacon Power, Tuesday Morning, West Pharmaceutical Services and Vectren were today's noteworthy upgrades:
- Jefferies upgraded shares of WellCare Health (NYSE: WCG) to Buy from Hold, as they believe the investigation could most likely result in fines as opposed to the loss of contracts with the company's government customers.
- Merriman raised its rating on Beacon Power (NASDAQ: BCON) to Buy from Neutral, as they believe the company is well-positioned for significant penetration of the growing frequency regulation markets.
- Piper upgraded shares of Tuesday Morning (NASDAQ: TUES) to Outperform from Market Perform as they believe the company's sales and margins trends are stabilizing.
- UBS upgraded West Pharmaceutical Services (NYSE: WST) to Buy from Neutral on valuation.
- Citigroup upgraded shares of Vectren (NYSE: VVC) to Buy from Hold, as they believe 2008 will be an inflection point with the share issuance and rate relief aiding earnings.
OTHER UPGRADES:
- Goldman added Roche (OTC: RHHBY) to its Conviction Buy List.
- Zumiez (NASDAQ: ZUMZ) was upgraded to Buy from Hold at McAdams, Wright.
- Thomas Weisel upgraded MasterCard (NYSE: MA) to Market Weight from Underweight.
- UBS upgraded Arcelor Mittal (NYSE: MT) to Buy from Hold.
Posted Feb 16th 2007 11:44AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, Expedia Inc (EXPE)
MOST NOTEWORTHY: Career Education Corp (CECO) and Expedia Inc (EXPE) were today's most notable downgrades:
- Prudential downgraded Career Education Corp (NASDAQ: CECO) to Underweight from Neutral with a $20 target based fourth quarter results and guidance.
- Expedia inc (NASDAQ: EXPE) was downgraded to Sector Performer from Sector Outperformer based on a deteriorating outlook and valuation following the weak fourth quarter.
OTHER DOWNGRADES:
- Various retail dining companies were downgraded today:
- Denny's Corp (NASDAQ: DENN) was reduced to Neutral from Buy at Merriman, citing weak traffic trends and the net unit growth delay into 2008.
- UBS downgraded Applebee's Int'l Inc (NASDAQ: APPB) to Neutral from Buy as they believe sales and traffic declines are likely to continue until easier comps in the second quarter.
- BB&T downgraded California Pizza Kitchen Inc (NASDAQ: CPKI) to Hold from Buy on valuation and concerns about earnings visibility.
- Constellation Brands Inc (NYSE: STZ) was cut to Neutral from Buy at Goldman Sachs on concerns around upcoming guidance and their belief that a recovery in the U.K. and Australia is at least a year away.
- Goldman downgraded WellCare Health Plans Inc (NYSE: WCG) to Sell from Neutral.
- Citigroup downgraded Petrobras Energia Participaciones ADS (NYSE: PZE) and Consolidated Communications Holdings Inc (NASDAQ: CNSL) to Sell from Hold.
- WedBush downgraded Take-Two Interactive Software (NASDAQ: TTWO) to Sell from Hold with a $15 target to reflect less optimism about the company's sport franchise and risk from the NY AG investigation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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