Deutsche Bank analyst George Hill downgraded Humana to Hold from Buy with a price target of $360, down from $595. Humana reported Q4 results this morning and issued 2024 guidance that missed the most pessimistic investor expectations, the analyst tells investors in a research note. The firm says investors are now left to question whether this is a Humana-specific issue, where the company has mispriced its benefits, underestimated utilization or misunderstood the competitive environment, or likely some combination of all three. With the company’s revised outlook, the shares now seem expensive both on 2024 expectations and likely on 2025 earnings estimates, according to Deutsche Bank
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