Truist raised the firm’s price target on Elevance Health to $600 from $580 and keeps a Buy rating on the shares after its Q1 earnings beat. The company reported better medical benefit ratio and solid cash flow, while the management also raised its guidance, the analyst tells investors in a research note. The firm adds that it is encouraged by the expanding opportunity at CarelonRx and views the CD&R partnership as a “meaningful step forward”.
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