RBC Capital analyst Ben Hendrix lowered the firm’s price target on Humana to $507 from $599 but keeps an Outperform rating on the shares. The company’s negative Q4 pre-announcement was driven by lower than expected 2024 Medicare Advantage growth and higher Q4 utilization, but while the stock will likely be in the penalty box in the near-term, the resetting of intermediate EPS targets by management could also give the stock a floor, the analyst tells investors in a research note. RBC is cutting its FY24 EPS view to $28.97 from $31.54 and its FY25 view to $33.33 from $37.04.
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