UBS analyst AJ Rice lowered the firm’s price target on Elevance Health (ELV) to $435 from $484 and keeps a Buy rating on the shares following the Q2 earnings report. While it was not surprising that Elevance faced pressure in Medicaid and the Marketplace given MCO peer preannouncements, the size of the EPS reduction was greater than anticipated, the analyst tells investors in a research note. UBS believes the company can lean on its commercial and Carelon segments for earnings stability and growth during this period of volatility.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ELV:
- Elevance Health price target lowered to $330 from $350 at BofA
- Elevance Health: Hold Rating Amid Elevated Utilization and Market Uncertainty
- Elevance Health price target lowered to $316 from $428 at Morgan Stanley
- ACA marketplace plans seek double digit rate increases for 2026, WSJ says
- Elevance Health price target lowered to $358 from $434 at Barclays