Alignment Healthcare upgraded to Overweight from Equal Weight at Stephens

Stephens upgraded Alignment Healthcare (ALHC) to Overweight from Equal Weight with a price target of $17, up from $13. Alignment’s competitive advantage in STARs will “shine brighter” in 2025 given industry-wide quality ratings degradation and easing competition from the company’s top three competitors in its core California market, the analyst tells investors. As a base case, Alignment appears set to drive 20%-plus membership growth in 2025, likely growing about four times faster than the Medicare Advantage market, the analyst contends.