TD Cowen analyst Ryan Langston initiates coverage on $Elevance Health (ELV.US)$ with a buy rating, and sets the target price at $484.
According to TipRanks data, the analyst has a success rate of 56.5% and a total average return of 2.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Elevance Health (ELV.US)$'s main analysts recently are as follows:
Post the Q3 report, it has been suggested that Medicaid pressures are overshadowing the favorable developments within the company's commercial and Carelon divisions.
After Elevance Health's Q3 earnings fell short and the company reduced its future earnings guidance, the stock experienced a decline. This was partly due to larger-than-expected challenges in the Medicaid sector. Despite these short-term issues, the prevailing sentiment remains that the Medicaid-related obstacles are seen as a transient hurdle, with the long-term outlook staying consistent.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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