Elevance Health price target raised to $575 from $574 at RBC Capital

RBC Capital analyst Ben Hendrix raised the firm’s price target on Elevance Health to $575 from $574 and keeps an Outperform rating on the shares after its Q1 earnings beat. The company has outperformed against a difficult managed care backdrop, with utilization across the benefit businesses tracking in line with expectations, the analyst tells investors in a research note. Evelnace’s Carelon brand also expands its reach through its CD&R primary care partnership, which brings the company carrier agnostic value-based care capabilities, RBC added.