Stephens analyst Scott Fidel lowered the firm’s price target on Humana to $590 from $625 and keeps an Overweight rating on the shares. CMS "made this into a really intense work week" as it dropped both the final RADV rule and the preliminary 2024 MA rates, which will likely result in an incrementally tougher Medicare Advantage operating environment in 2024-2025 when taken together. In such an environment, the firm sees Humana gaining market share given its "industry-leading" STARS ratings. While lowering its 2024 adjusted EPS estimate to $31.90 from $32.10, Stephens is maintaining its 2023 and 2025 adjusted EPS estimates for Humana.
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Published first on TheFly
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