Agilon Health price target lowered to $16 from $23 at Wells Fargo

Wells Fargo lowered the firm’s price target on Agilon Health to $16 from $23 and keeps an Overweight rating on the shares. It is clear that Agilon Health is experiencing the same cost pressure as most MA plans, the firm says. This is only surprising because of the company’s confidence it did not have an issue in Aug/Sept, Wells adds. The firm believes the model doesn’t seem broken, but visibility is low and credibility is strained.