Guggenheim lowered the firm’s price target on Elevance Health (ELV) to $360 from $447 and keeps a Buy rating on the shares. Elevance lowered 2025 EPS guidance to about $30, which “on the surface was within the realm of possibilities for resetting the 2025 earnings bar,” but the analyst suspects investor questions will focus on the “true” 2025 earnings floor for the company within the current uncertain cost trend environment. However, the firm is “reluctant to throw in the towel” as greater clarity around the the second half of 2025 and 2026 set up plays out and the company executes against this new low bar, the analyst added.
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