Humana price target raised to $599 from $568 at Bernstein

Bernstein analyst Lance Wilkes raised the firm’s price target on Humana to $599 from $568 and keeps a Market Perform rating on the shares following quarterly results. The firm notes that overall, the quarter was roughly in line, with adjusted EPS of $8.94 beating consensus by 2%, and revenues of $26.7B beating by 2%. Medical costs seem to be running consistent with recent pre-announcement, with MLR guided to high end of range for 2023. Humana also posted strong numbers for MA, with lives up 2.0% quarter-over-quarter, and up 12.9% year-over-year, Bernstein notes.