Mizuho lowered the firm’s price target on Elevance Health (ELV) to $400 from $420 and keeps an Outperform rating on the shares. The firm reduced 2026 and 2027 earnings estimates to reflect additional headwinds in Carelon related to the expected regulatory driven membership changes. The firm assumes Elevance faces membership pressure in its Medicaid, Medicare Advantage and the health insurance exchange businesses due to the potential expiration of the enhanced advanced premium tax credits.
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