Humana price target lowered to $280 from $305 at Truist

Truist analyst David MacDonald lowered the firm’s price target on Humana (HUM) to $280 from $305 and keeps a Hold rating on the shares. The company’s Investor Day presentation provided a solid update on the ongoing attractiveness of the Medicare Advantage market as well as its strong margin expansion opportunity as the Medicaid book further matures, the analyst tells investors in a research note. Truist adds that it sees meaningful avenues for growth at Centerwell and a growth bridge to 2028, though its reduced price target reflects a lower assumed multiple.