Humana price target lowered to $400 from $550 at Truist

Truist lowered the firm’s price target on Humana to $400 from $550 and keeps a Hold rating on the shares. The analyst is citing the company’s lowered 2024 expectations as incremental Medicare Advantage utilization pressure in both inpatient and non-inpatient weighed on results and its outlook. Humana’s other business lines were in-line and the company’s financial flexibility remains solid, though the firm notes areas of near-term Medicare uncertainty, Truist added.