Anthem (ANTM) PT Raised to $447 at Jefferies

Jefferies analyst David Windley raised the price target on Anthem (NYSE: ANTM) to $447.00 (from $434.00) while maintaining a Buy rating.

The analyst commented, "ANTM's strong 1Q results (EPS beat by 10%) and 2% guidance raise reflect strong operating performance above a conservative outlook. We raise our EPS outlook with the protection of reserves that appear very padded. Mgt doesn't see evidence of higher acuity in non-COVID medical consumption, which is encouraging. RFP activity is accelerating, and we like ANTM's prospects for enrollment growth. We reiterate Buy with the stock at~15x '21E P/E."

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