Agilon Health price target lowered to $1.10 from $2.40 at Jefferies

Jefferies analyst Jack Slevin lowered the firm’s price target on Agilon Health (AGL) to $1.10 from $2.40 and keeps a Hold rating on the shares. The firm says Q2 showed that while efforts to address PYD and fundamental headwinds have been well-placed, Agilon Health is still facing challenges. The leadership shake-up leads Jefferies to belief that urgency is heightened to address these issues; the current cash balance leaves some runway to sort things out, but the firm thinks fairly aggressive options related to the portfolio could be on the table exiting FY25 based on MCO bids and current performance.