Humana (HUM) PT Lowered to $515 at Jefferies on Weak Guidance
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Jefferies analyst David Windley lowered the price target on Humana (NYSE: HUM) to $515.00 (from $525.00) after the company reported results that met expectations but guided below baseline.
The analyst reiterated a Buy rating, stating "Mgt plotted a "reasonable path" to '21 guidance, and we think a few paths could work. However, they seem a shade (not wildly) optimistic, based on cost trends discussed. Key questions both for 2H21 and solid growth in '22 revolve around: 1) the reasonableness of mgt's 2.5% below baseline utilization assumption, and 2) the interplay of COVID infection rates/costs and non-COVID utilization"."
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