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Molina Healthcare may report another earnings shortfall in Q2, Goldman Sachs says

Goldman Sachs analyst Matthew Borsch has downgradedMolina HealthcareInc. to "sell" from "neutral," following thecompany's lower-than-expected earnings in the first quarter and reduced outlook for2016.

Borsch expects Molina Healthcare's earnings to reportanother shortfall in the second quarter. The company has not fully recognizedthe downside in its EPS guidance for 2016 given the "rapid emergence ofearnings pressure and its multiple interrelated drivers," the analyst said.

The company's stock experienced a significant since its first-quarterearnings release, and the analyst expects it to drop further if the companyreports another earnings miss and reduction in outlook.

Borsch reduced his price target on the stock by $30 to $45.EPS estimates were reduced to $1.50 from $3.86 for 2016 and to $3.00 from $4.80for 2017.