Bernstein analyst Lance Wilkes lowered the firm’s price target on Elevance Health (ELV) to $409 from $431 and keeps an Outperform rating on the shares. The firm updated the company’s model to reflect the Q4 report. The company’s commitment to 12% earnings growth in 2027 was the most important part of the earnings call, reflecting a focus on margin recovery, the analyst tells investors in a research note. Bernstein cites lower Medicate Advantage rates and lower membership impacts on Carelon businesses for the target cut.
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