Oscar Health price target raised to $6.00 from $3.00 at Cowen

Cowen analyst Gary Taylor raised the firm’s price target on Oscar Health to $6.00 from $3.00 and keeps a Market Perform rating on the shares. The analyst said its material 4Q22 loss was nevertheless smaller than expected; as were guided 2023 losses; given the decision to turn off enrollment growth. Oscar still guides for profitability in 2024 although in our view this remains a balance between cost-cutting pricing and limited growth.