Elevance Health Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Elevance Health Inc. (NYSE:ELV) reported Q1 earnings surpassing expectations with a 12.2% increase in profit to $2.2 billion and adjusted EPS of $10.64, beating the consensus. Despite a slight miss in revenue expectations, the company raised its FY23 EPS guidance to over $37.20, exceeding prior forecasts and consensus. Shares rose 3.2% following the announcement. Analysts from Barclays and Jefferies have increased their price targets for ELV, reflecting optimism in its growth prospects.
April 19, 2024 | 1:02 pm
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Elevance Health reported strong Q1 earnings with a 12.2% profit increase and raised FY23 EPS guidance, leading to a 3.2% share price increase. Analysts from Barclays and Jefferies raised their price targets.
The positive earnings report and raised guidance indicate strong financial health and growth prospects for Elevance Health, leading to increased investor confidence and analyst optimism. The share price increase reflects the market's positive reception to the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100