Oscar Health price target raised to $28 from $25 at Piper Sandler

Piper Sandler raised the firm’s price target on Oscar Health to $28 from $25 and keeps an Overweight rating on the shares. The firm Oscar Health notes delivered a consummate Q2 beat, with results exceeding PSC/consensus estimates across all measures of growth and profitability. Spurred by the first half of 2024 momentum, the company raised 2024 revenue guidance by 8.4% at the midpoint and 2024 adjusted EBITDA guidance by 23.3% at the midpoint.