Wells Fargo downgrades Molina Healthcare after ‘quite poor’ Q4

Wells Fargo analyst Stephen Baxter downgraded Molina Healthcare (MOH) to Equal Weight from Overweight with a price target of $141, down from $208. The firm says that despite materially rebasing 2026 expectations, Molina’s guidance is dependent on “much less” acuity pressure in Medicaid and does not appear conservative. The company’s continued volatility of revenue and expense accruals “is also concerning,” the analyst tells investors in a research note. Wells views Molina’s Q4 report as “quite poor.”