Elevance Health price target raised to $439 from $358 at RBC Capital
RBC Capital analyst Ben Hendrix raised the firm's price target on Elevance Health to $439 from $358 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q2 earnings in Healthcare Services and Managed Care. The firm is expecting payor strength seen since April to sustain amid growing concern over volume and acuity into the second half of the year, the analyst tells investors in a research note. Indications of lagging surgical volume supports stable trend for the Managed Care group, with greatest visibility in Medicare Advantage, RBC noted. Concern has also grown intra-quarter that hospital operators may have underestimated ACA exchange headwinds, driving consternation over potential guidance revisions, the firm added.
RBC Capital analyst Ben Hendrix raised the firm's price target on Elevance Health to $439 from $358 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q2 earnings in Healthcare Services and Managed Care.
The firm is expecting payor strength seen since April to sustain amid growing concern over volume and acuity into the second half of the year, the analyst tells investors in a research note.
Indications of lagging surgical volume supports stable trend for the Managed Care group, with greatest visibility in Medicare Advantage, RBC noted.
Concern has also grown intra-quarter that hospital operators may have underestimated ACA exchange headwinds, driving consternation over potential guidance revisions, the firm added.