WellPoint Still Glowing

WellPoint (WLP Quote) has received a second, more favorable opinion of its 2006 guidance.

True, the company simply reiterated its outlook -- rather than raising it to meet lofty Wall Street expectations -- during its much-awaited investor day this week. But the company has a reputation for beating its own targets, so some experts on Wednesday chose to leave their own, more bullish views intact.

"Since we are paid to produce our best estimates and not simply repeat management statements, we will ignore this guidance," declared Prudential analyst David Shove. "We continue to believe that the synergies from the Anthem deal and the profitability of (Medicare) Part D will drive earnings to $4.80 in 2006. We reiterate our overweight rating for the shares." ...