UBS Reaffirms Buy on Elevance Health (ELV) Amid Stronger Industry Trends
UBS raised its Elevance Health (ELV) price target to $460 from $400 and reiterated a Buy rating on May 22, citing improved managed-care guidance after stronger Q1 results and better Medicare Advantage rates, steadier ACA enrollment, and modest Medicaid outperformance, despite ongoing cost pressures from specialty drugs, GLP-1s, and behavioral health. Deutsche Bank also upgraded ELV to Buy, lifting its target to $498.