RBC Capital analyst Frank Morgan lowered the firm’s price target on Humana to $594 from $637 but keeps an Outperform rating on the shares. The company reported a “solid” Q2 earnings beat, and with recent signs that utilization is stabilizing, the management reaffirmed adjusted guidance, still pointing to the high end of the MCR range, the analyst tells investors in a research note. The firm adds however that its reduced price target reflects sector re-rating since early this year.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HUM:
- Humana sees FY24 adjusted EPS up 11%-15%, consensus $32.09
- Early notable gainers among liquid option names on August 2nd
- Unusually active option classes on open August 2nd
- Humana says ‘committed’ to FY24 adjusted EPS target of $37
- Humana backs FY23 adjusted EPS view to ‘at least’ $28.25, consensus $28.29