Truist Securities reiterates Buy rating on Centene stock with $47 target

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Truist Securities has reaffirmed its Buy rating for Centene (NYSE:CNC) with a $47 price target, following the company’s fourth-quarter results. Centene’s stock is considered undervalued by InvestingPro data, trading at $38.14, despite challenges like a 10.5% gross profit margin. The firm anticipates significant margin improvement in Centene’s Marketplace segment and stability in Medicaid, with Medicare Advantage moving towards breakeven by 2027.

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