Elevance Health price target raised to $359 from $316 at Morgan Stanley

Morgan Stanley analyst Erin Wright raised the firm’s price target on Elevance Health (ELV) to $359 from $316 and keeps an Equal Weight rating on the shares. Last week’s Stars results were “encouraging” for the sector and Managed Care Organization sentiment has “improved slightly,” but there is “still a lot to prove” as the focus turns to utilization and early reads on 2026, the analyst tells investors in a Q3 earnings preview for the group.