Street View: Investors may question if further revisions to Molina's forecast are needed

** Molina Healthcare MOH on Wednesday cut its annual profit forecast for the second time this month, anticipating higher medical care costs to weigh on its results.

** The company now expects adjusted full-year profit to be at least $19.00 per share, compared to its previous range of $21.50 to $22.50 per share

RESETTING THE BAR TO AN ACHIEVABLE LEVEL FOR 2025

** Baird ("Neutral", PT: $373) says the implied medical cost ratio in the second half "does not appear to be overly conservative which makes us a bit cautious, given all the potential additional shoes that could drop"

** Barclays ("Equal weight", PT: $270) adds most investors expected Molina to cut forecast again at some point this year

** J.P. Morgan ("Neutral", PT: $272) says the revised forecast is "resetting the bar to an achievable level for 2025", but the company will need to articulate improvement from higher medical costs against the backdrop of an uncertain 2026.

** Jefferies ("Hold", PT: $291) says the spike in Molina's Medicaid costs "adds another leg to an already strong anti-Medicaid bias"