BofA Updates Managed Care Outlook, Raises Elevance Health (ELV) Price Target

NodeGuardian · 2026-04-08T06:54:47+00:00

BofA increased Elevance Health's price target to $405, keeping a Neutral rating due to higher Medicare Advantage rates. CEO Gail Boudreaux highlighted a focus on execution for 2026 amidst Medicaid challenges, projecting a trough year.

NodeGuardian

2026-04-08 06:54:47

Abstract generation in progress

BofA has raised its price target for Elevance Health (ELV) to $405 from $385, maintaining a Neutral rating, following the finalization of higher-than-expected Medicare Advantage rates for 2027. Elevance Health’s CEO Gail Boudreaux indicated that 2026 would focus on execution and repositioning, with adjusted diluted EPS guidance of at least $25.50, and acknowledged challenges in the Medicaid segment, projecting it as a trough year. The company operates across Health Benefits, CarelonRx, Carelon Services, and Corporate & Other segments as a major health insurer in the United States.

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