Anthem (ANTM) PT Raised to $430 at Cantor Fitzgerald Following Earnings
- Wall St drops at open as strong inflation stokes rate hike fears
- Fed Has Already Changed its Policy Due to Inflation, Market Gambling Fears - Dick Bove
- U.S. consumer prices post largest gain since 2009 as inflation ramps up
- Bill Ackman said has been working on a transaction for Pershing Square Tontine (PSTH) for months
- FuboTV (FUBO) Surges After Crushing Views on New Subscribers Adds, Analysts Positive
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Cantor Fitzgerald analyst Steven Halper raised the price target on Anthem (NYSE: ANTM) to $430.00 (from $360.00) while maintaining an Overweight rating.
The analyst commented, "On Wednesday, April 21, the company reported 1Q21 results with adjusted EPS well above our estimates and FactSet consensus. The company increased its 2021 adjusted EPS guidance. We note that investors were very disappointed with the company's initial 2021 detailed guidance, which it provided late January 2021. In hindsight, the original guidance was overly conservative. While the company increased its outlook, we believe the underlying assumptions are probably still too conservative. The company continues to expect higher rates of utilization for the remainder of 2021. However, as we think about 2022, certain headwinds will ease, which should result in the company easily reaching EPS growth well within its long-term range of 12-15%. With the shares trading at about 13.5x our revised 2022 adjusted EPS estimate, the shares remain attractive. Our DCF-based price target of $430 implies a P/E multiple of just 15.1x. We continue to believe our long-term model assumptions are conservative. The risk reward trade off at current levels, as we see it, is compelling."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Summit Materials (SUM) PT Raised to $39 at Jefferies on Conservative Volume Guidance
- Zoomlion Heavy Industry Science & Tech (H-Shares) (1157:HK) (ZLIOF) PT Lowered to HK$13.70 at JPMorgan
- Keyera Corp. (KEY:CN) (KEYUF) PT Raised to Cdn$30 at BMO Capital
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesCantor Fitzgerald, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!