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.
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