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Wellpoint Downgraded at Deutsche Bank (WLP)

By
January 3rd, 2013

Wellpoint Downgraded at Deutsche Bank (WLP)

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Deutsche Bank reported on Thursday that they have downgraded health benefit company, WellPoint, Inc.(WLP).

The firm announced that they have lowered their rating on WLP from a “Buy” to a “Hold,” and have given the company a $68 price target. This price target suggests a 12% increase from the stock’s current price of $59.57.

Analysts have downgraded the company due to a decline in industry price increases.

WellPoint shares were down -$1.36, or -2.13% during Thursday morning trading. The stock has increased 12% in the past year.

The Bottom Line
Shares of Wellpoint, Inc. (WLP) have a 1.89% dividend yield, based on last night’s closing stock price of $60.92. The stock has technical support in the $55 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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.