Elevance Health price target lowered to $483 from $495 at Wells Fargo

Wells Fargo analyst Stephen Baxter lowered the firm’s price target on Elevance Health (ELV) to $483 from $495 and keeps an Overweight rating on the shares as the firm updates Managed Care estimates post-election. All estimates assume the expiration of enhanced exchange subsidies for 2026, Wells notes. The firm believes Medicare Advantage risk/reward improves with Republicans, although areas of concern still exist.