Agilon Health price target lowered to $16 from $20 at BofA

BofA lowered the firm’s price target on Agilon Health to $16 from $20 and keeps a Buy rating on the shares after the company guided down both 2023 and 2024, rescinded its long-term outlook, and announced last week that it CFO was retiring. This marks the “third consecutive quarter of disappointing results” and sparked a nearly 30% selloff in the stock, notes the analyst, who still sees reasons to believe in the model despite what the firm calls the market’s “crisis of confidence.”