Anthem (ANTM) PT Raised to $500 at BMO Capital

BMO Capital analyst Matt Borsch raised the price target on Anthem (NYSE: ANTM) to $500.00 (from $465.00) while maintaining an Outperform rating.

The analyst commented, "Post 3Q, we maintain our Outperform rating while raising our target price to $500 (prior $465) based on 17.2x our 2022E EPS. We also raise 2021 EPS to $25.90 (prior $25.60) to reflect 3Q upside that led ANTM to raise its EPS range by $0.35 to "greater than" $25.85 at high end. Further out, we modestly lower our 2022E/2023E EPS to $28.50/$32.00 (prior $28.70/$32.75) to more closely fit ANTM's initial view of 2022 EPS growth (i.e., "at least" 12% over adj. 2022 'baseline' of $25.20)."

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