BofA raised the firm’s price target on Elevance Health (ELV) to $405 from $385 and keeps a Neutral rating on the shares. The firm raised price targets for several managed care names, citing higher multiples after CMS finalized Medicare Advantage rates for 2027, as the rule provides visibility on 2027 rates. The net update of 2.48% increases in rates is above the high end of the 1%-2% improvement versus the proposal that the market was expecting, the analyst tells investors.
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