Cantor Fitzgerald analyst Sarah James initiated coverage of Elevance Health with an Overweight rating and $547 price target. The analyst has concerns about spread compression for the commercial risk market through 2025, but sees Elevance’s actions on repricing as "giving it some cushion." The firm has high conviction in its subsidiary, CarelonRx, achieving its organic growth guidance and also sees earnings upside potential from the recapture of Medicaid redeterminations.
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