BofA analyst Kevin Fischbeck raised the firm’s price target on Molina Healthcare to $405 from $350 and keeps a Neutral rating on the shares. MCOs were pressured in 2023 from sector rotation, heightened regulatory scrutiny, trend concerns, and deal uncertainty, but broadly the firm remains bullish on managed care and sees 2024 being about the group resetting expectations, getting back to consistent beats and raises and working through overhangs.
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- Molina Healthcare price target raised to $392 from $367 at JPMorgan
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