Molina Healthcare price target raised to $374 from $359 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Molina Healthcare to $374 from $359 and keeps an Overweight rating on the shares. The analyst says the multiple compression on Medicaid payors from concern about redetermination margin risk is looking increasingly overdone. Molina expressed positive commentary on states appropriately accounting for acuity mix shift in their 2024 rates, the analyst tells investors in a research note.