Wells Fargo moves to the sidelines on Oscar Health until visibility improves

As previously reported, Wells Fargo downgraded Oscar Health (OSCR) to Equal Weight from Overweight with a price target of $16, down from $20. While the company has executed well on growth/market share and shown progress on the path to profitability targets, the firm believes the current legislative and regulatory uncertainty in the exchange market adds considerable risk to the story and at a minimum could make it hard for the stock to outperform until visibility improves. The timeline to improved visibility will likely stretch well into 2026, Wells adds.