Loop Capital analyst Joseph France raised the firm’s price target on Elevance Health to $565 from $550 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 earnings upside and its upbeat 2023 outlook. Loop’s 2024 forecasts also call for lesser disruption from rate redetermination – which begins in April, but could take a year or more to complete – and margin expansion from pricing actions in 2023 that improve the yield of Elevance’s fee-based plans and boost its risk margins, the firm tells investors in a research note.
Published first on TheFly
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