Wells Fargo analyst Stephen Baxter lowered the firm’s price target on Elevance Health to $561 from $597 and keeps an Overweight rating on the shares. While EPS was modestly better-than-expected, lack of core MLR favorability coupled with declining DCP was viewed negatively, particularly given Commercial and Med Adv margin improvement targets. Focus will remain on cost trend and MLR trajectory, Wells says.
Published first on TheFly
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Read More on ELV:
- Elevance Health price target lowered to $550 from $565 at Loop Capital
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