Molina Healthcare initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Scott Fidel initiated coverage of Molina Healthcare (MOH) with a Neutral rating and $207 price target The managed care industry faces its most significant underwriting downturn in over 15 years, the analyst tells investors in a research note. Goldman recommends increased exposure to Medicare Advantage as it sees a margin recovery phase beginning in 2026. However, the firm does not see the Medicare Advantage recovery playing out uniformly across the group in 2026. The analyst also sees a longer path to cyclical recovery in Medicaid and the healthcare exchange.