WellPoint Downgraded at Credit Suisse (WLP)
Credit Suisse reported on Wednesday that they have lowered their rating on health benefit company, WellPoint, Inc.(WLP).
The firm has downgraded WLP from an “Outperform” to “Neutral,” and have given the company a $65 price target. This price target suggests a 6% increase from the stock’s current price of $60.92.
An analyst from the firm sees the company’s having increased competition leading to 2014.
WellPoint shares were mostly flat during premarket trading Wednesday. The stock has declined -8% in the past year.
The Bottom Line
Shares of Wellpoint Inc. (WLP) have a 1.89% dividend yield, based on Monday’s closing stock price of $60.92. The stock has technical support in the $55-$57 price area. If the shares can firm up, we see overhead resistance around the $63-$65 price levels.
WellPoint, Inc.(WLP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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