JPMorgan lowered the firm’s price target on Molina Healthcare to $341 from $348 and keeps an Overweight rating on the shares. The analyst thinks the Q2 earnings reports will provide some clarity on whether higher Medicare Advantage utilization is a company-specific or industry-wide issue and will help investors assess potential earnings exposure in 2023 and 2024. The firm believes the combination of Medicare Advantage cost trend uncertainty and the election cycle limits near-term upside for the managed care group. It lowered target multiples across the group.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MOH:
- Molina Healthcare’s deal for California assets a ‘nice M&A pickup’, says Truist
- Molina to acquire Brand New Day, Central Health Plan of California for $510M
- Bright Health enters pact with Molina to sell CA Medicare Advantage for $600M
- Molina Healthcare price target lowered to $365 from $380 at Truist
- Molina Healthcare initiated with a Neutral at UBS