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.
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