Morgan Stanley analysts adjusted their rating for Centene (NYSE:CNC) from Overweight to Equalweight. The new price target stands at $73.00, down from the previous $94.00.

The analysts explained the downgrade by expressing diminished confidence in the predictability and consistency of Centene’s long-term earnings growth trajectory. They pointed out uncertainties emerging around the multi-year recovery of Medicare Advantage Star Ratings and the company’s potential to secure future Medicaid RFPs. These uncertainties are increasingly raising doubts about Centene’s foundational long-term growth narrative.

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