Markets & Finance

UBS Ups Conseco to Buy from Neutral

UBS Financial upgraded Conseco (CNO)to buy from neutral, citing growing confidence in the company's financial stability and business prospects.

Analyst Andrew Kligerman thinks Conseco's stock price is poised for meaningful upside, based on positive factors such as the re-rating of its long-term care insurance (LTCI) business and continued cost savings. He set a $26 price target, which suggests about 23% upside potential and supports a buy rating. He sees $1.78 2005 earnings per share and $1.93 earnings per share in 2006.

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