Molina Healthcare price target lowered to $216 from $372 at Wells Fargo

Wells Fargo analyst Stephen Baxter lowered the firm’s price target on Molina Healthcare (MOH) to $216 from $372 and keeps an Overweight rating on the shares. The firm says the managed care “bear case” is playing out with “material” exchange disruption and further pressure on Medicaid margins. If it difficult to have confidence in medium-term improvement due to uncertainties from the expiration of enhanced exchange subsidies in 2026 and Medicaid work regulations in 2027, the analyst tells investors in a research note.