Wells Fargo Upgrades Oscar Health Inc (OSCR) to Equal Weight 'on Greater Confidence in Exchange Market Trajectory in 2026'
Wells Fargo analyst Stephen Baxter upgraded Oscar Health Inc (NYSE: OSCR) from Underweight to Equal Weight with a price target of $20.00 (from $11.00).
The analyst comments "We are upgrading OSCR to Equal Weight and raising PT to $20 from $11. We are now increasingly comfortable with the trajectory of the exchange market in 2026, but visibility remains low beyond that, and we expect payment integrity will remain a focus. Early Exchange Read. Based on our deep-dive analysis of stat filings, it appears enrollment and morbidity outcomes on the exchanges are trending better than feared, with the industry showing material MLR improvement while seeming to book risk adjustment too conservatively (opposite of last year's dynamic). Florida, OSCR's most important state at ~64% of premiums, has only seen membership decline 13.5% y/y, with MLRs improving 370bps y/y despite 640bps of potential conservatism on risk adj."
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Shares of Oscar Health Inc closed at $20.50 yesterday.