Clover Health price target raised to $4.20 from $3.20 at Canaccord

Canaccord analyst Richard Close raised the firm’s price target on Clover Health (CLOV) to $4.20 from $3.20 and keeps a Buy rating on the shares. The firm said although 3Q results were mixed versus estimates, with revenue falling below the firm’s forecast, Clover continued to significantly outperform versus adj-EBITDA expectations driven by continued solid medical cost performance especially compared to its MCO peer group.