Elevance Health price target lowered to $580 from $610 at Truist

Truist lowered the firm’s price target on Elevance Health to $580 from $610 but keeps a Buy rating on the shares. The analyst states that the company’s Investor Day presentation highlighted a broad range of opportunities across Carelon and Health Benefits as Elevance further builds a differentiated suite of capabilities and deepens its push into value. In the near term, the Medicare Advantage rate visibility should help, while the company’s broad product offering aids with redeterminations and its financial flexibility remains strong, the firm tells investors in a research note.