Ahead of the Bell: HealthExtras downgraded

NEW YORK (AP) - Piper Jaffray analyst said Monday that shares of HealthExtras are trading at a fair price, while some of the challenges that hurt the pharmacy benefits manager's first-quarter results remain. Analyst Mark L. Arnold downgraded the stock to "Neutral" from "Buy." Shares of HealthExtras Inc. closed at $31.83 Friday, near Arnold's price target of $33 per share and around a two-year high. The stock is up 18.1 percent following the company's disappointing first-quarter results. Arnold said the Rockville, Md., company is in good shape and will continue to win contracts. But he said HealthExtras' profits and prescriptions fell in the first quarter as it worked to fulfill a consulting contract in Puerto Rico. He said the buildup will hurt results for the rest of the year and lead to a weak second... [read full story]