Agilon Health price target lowered to $8 from $11 at RBC Capital

RBC Capital lowered the firm’s price target on Agilon Health to $8 from $11 but keeps an Outperform rating on the shares. The company’s Q4 results fell well below even the disappointing targets pre-announced on January 5th, while the management lowered its FY24 guidance primarily on sustained elevated utilization trends, the analyst tells investors in a research note. RBC adds however that most of these underlying issues can be remediated through the combination of the natural 1- to 2-year Medicare repricing cycle, some interim relief from several payer-partners, and a multi-part targeted action plan that the company has already set into motion.