Molina Healthcare price target raised to $435 from $365 at Truist

Truist raised the firm’s price target on Molina Healthcare to $435 from $365 and keeps a Buy rating on the shares as part of a broader research note and outlook for FY24 among Healthcare Services names. Truist remains “broadly constructive” on core fundamentals across the group given “brisk sector tailwinds” around demand, the move to value-based care, and demographics, along with the group’s attractive positioning within segments and robust cash generation. The firm also notes that financial flexibility across much of the group should continue to underpin strong growth investment, M&A, and shareholder value creation, the analyst tells investors in a research note.