Morgan Stanley Maintains Overweight Rating for Elevance Health: Here's What You Need To Know

Morgan Stanley has decided to maintain its Overweight rating of Elevance Health ELV and raise its price target from $571.00 to $585.00.

Shares of Elevance Health are trading up 0.6% over the last 24 hours, at $473.99 per share.

A move to $585.00 would account for a 23.42% increase from the current share price.

About Elevance Health

Elevance Health (formerly known as Anthem) remains one of the leading health insurers in the U.S., providing medical benefits to 48 million medical members as of December 2022. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs such as Medicaid and Medicare Advantage plans, too.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.