JPMorgan analyst Lisa Gill lowered the firm’s price target on Alignment Healthcare to $10 from $12 and keeps a Neutral rating on the shares. The analyst thinks the Q2 earnings reports will provide some clarity on whether higher Medicare Advantage utilization is a company-specific or industry-wide issue and will help investors assess potential earnings exposure in 2023 and 2024. The firm believes the combination of Medicare Advantage cost trend uncertainty and the election cycle limits near-term upside for the managed care group. It lowered target multiples across the group.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ALHC:
- Alignment Healthcare appoints Melinda Kimbro as Chief People Officer
- Alignment Health Plan Adds Tucson Medical Center to Expand Access to Care for Southern Arizona Seniors
- Alignment Health Plan enters agreement with Tucson Medical Center
- Down More Than 40%: Analysts Say Buy These 2 Beaten-Down Stocks Before They Rebound
- Wells Fargo Sees Potential Purchase Window in Managed Care Stocks