As previously reported, BofA analyst Kevin Fischbeck upgraded Elevance Health (ELV) to Buy from Neutral with a price target of $435, up from $405, citing increased confidence that Medicaid margins are likely bottoming in 2026. The firm still sees near term risks to trend, exchanges, and acuity, but calls the return to target margins “more a matter of time and math” as state data slowly catches up to trend/risk pool shifts in 2024/25, improving rates and margins in 2027.
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Read More on ELV:
- Elevance Health upgraded to Buy from Neutral at BofA
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