Bright Health price target raised to $16 from $13 at RBC Capital

RBC Capital analyst Ben Hendrix raised the firm’s price target on Bright Health to $16 from $13 and keeps a Sector Perform rating on the shares. The company’s continuing operations saw “solid results” while its liquidity concerns are easing with the pending sale of California Medicare Advantage business, the analyst tells investors in a research note. Bright Health has also made substantial progress in managing the liability in its discontinued operations, reaching 95% claims completion at the end of the quarter, the firm added.