Elevance Health price target raised to $646 from $621 at BofA

BofA raised the firm’s price target on Elevance Health to $646 from $621 and keeps a Buy rating on the shares. The firm says that “using somewhat conservative assumptions,” it estimates that Elevance should return 20% over the next year, adding that it sees “a path to consistent additional low teens annual returns from there” and is raising its multiple on better visibility into growth.