Anthem (ANTM) PT Raised to $361 at UBS, Long-term & 2022 Earnings Potential Stays unchanged

February 2, 2021 4:11 PM EST
Get Alerts ANTM Hot Sheet
Price: $428.44 -2.45%

Rating Summary:
    21 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 37
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UBS analyst Whit Mayo raised the price target on Anthem (NYSE: ANTM) to $361.00 (from $335.00) while maintaining a Buy rating.

The analyst comments "ANTM posted in-line results with well controlled medical costs (MLR 88.9% vs cons of 90%) providing a modest amount of upside offset by higher SG&A (13.7% vs cons of 12.9%). ANTM gave an updated view on 2021 guiding EPS 3.4% below cons and MLR 100bps higher. Mgmt cited a $0.50-$0.70 headwind to MA. UNH and HUM cited similar headwinds and we see ANTM's guidance posture as conservative. ANTM continues to grow its risk book with both resiliency in its commercial membership and outsized gains in its MA and MDCD membership. ANTM remains on track to grow its MA business middouble digits in 2021 and expects to reach 10m Medicaid members in 2021. The outyear growth prospects remain unchanged w/ mgmt reiterating its long-term EPS growth target of 12-15% and blessing $25.10 as a good jumping off point pinning 2022 in the zone of current consensus. Buy."

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