Elevance Health price target lowered to $501 from $622 at Barclays

Barclays lowered the firm’s price target on Elevance Health (ELV) to $501 from $622 and keeps an Overweight rating on the shares. The firm says that following a “chaotic first week” of Q3 earnings that featured material medical loss ratio misses and negative outlook surprises, it evaluated the resets and read-throughs from UnitedHealth’s and Elevance Health’s earnings reports.