Alignment Healthcare price target raised to $18.50 from $15.50 at BofA

BofA raised the firm’s price target on Alignment Healthcare (ALHC) to $18.50 from $15.50 and keeps a Buy rating on the shares after the company had “a markedly stronger quarter than most of its peers.” The results and outlook add “significant confidence,” adds the analyst, who sees a high visibility ramp to competitive industry level margins over the next few years while Alignment takes share.