Clover Health price target lowered to $3.70 from $4.10 at Canaccord

Canaccord lowered the firm’s price target on Clover Health (CLOV) to $3.70 from $4.10 and keeps a Buy rating on the shares. The firm said Clover’s return to significant growth during last year’s AEP and throughout 2025 when membership in its MA plans expanded rapidly finally caught up to the company in 3Q with a sizable adj-EBITDA miss and downward profitability guidance revision as elevated medical cost trend materialized in the quarter along with prior period development from 1H’25.