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Elevance Health price target raised to $465 from $450 at Argus

Argus raised the firm’s price target on Elevance Health (ELV) to $465 from $450 and keeps a Buy rating on the shares. The company’s results calmed concerns raised by a competitor in the managed-care space about pressure from rising medical costs in the Medicare Advantage business, and Elevance remains on the path to achieve margin recovery for its commercial business, the analyst tells investors in a research note.

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