Morgan Stanley raised the firm’s price target on Elanco (ELAN) to $22 from $18 and keeps an Equal Weight rating on the shares. For healthcare technology and providers, the firm sees an “attractive backdrop for alpha-generation opportunities” in 2026, the analyst tells investors. Meanwhile, managed care stocks have underperformed in 2025 and are facing “another year of unprecedented policy, reimbursement, and utilization headwinds,” the analyst added in a year-ahead outlook note for the Healthcare Services group.
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