Leerink Partners analyst Whit Mayo has reiterated their bullish stance on ELV stock, giving a Buy rating yesterday.
Whit Mayo has given his Buy rating due to a combination of factors influencing Elevance Health’s current and future performance. The company’s first-quarter results were aligned with internal expectations, indicating stability in their operations. Despite some sector challenges, Elevance Health’s valuation appears to adequately discount the risks associated with margin improvements expected in the latter half of the year.
Additionally, the anticipated improvement in Medicare Advantage and Medicaid into 2026 supports the potential for above-average earnings per share growth. The company’s Carelon segment has shown robust growth, driven by mergers and acquisitions, which further strengthens its business momentum. These factors, along with a revised price target of $510, contribute to the confidence in Elevance Health’s potential for growth, justifying the Buy rating.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $478.00 price target.
ELV’s price has also changed slightly for the past six months – from $419.840 to $415.900, which is a -0.94% drop .