Cantor Fitzgerald maintains Overweight rating on Elevance stock at $400

Investing.com - Cantor Fitzgerald has reiterated its Overweight rating and $400.00 price target on Elevance (NYSE:ELV) amid enrollment volatility in specific states. Currently trading at $323.12, the stock appears undervalued according to InvestingPro analysis, with analyst targets ranging from $297 to $507.

The firm noted that third-quarter 2025 versus second-quarter 2025 enrollment shifts range from negative 1% to positive 1%, but downward movements in certain states could drive volatility for the healthcare company. Despite these concerns, Elevance maintains a GREAT financial health score and has demonstrated solid revenue growth of 10.21% over the last twelve months.

Elevance’s recent commentary indicated that shifting enrollment in some states has slightly worsened its 2025 outlook since the company reported results in early July, according to Cantor Fitzgerald’s analysis.

While Cantor tracked Elevance enrollment shifting 0% overall, state-specific exposure suggests downward moves in Indiana (third-quarter 2025 down 5% following 6% losses in second-quarter 2025) and New Jersey (third-quarter 2025 down 3%) may be driving the negative outlook adjustment.

The firm noted that reported data remains underdeveloped, with an average of 61% enrollment data available through July 2025 and 34% through August, but provides insight into key states for Elevance’s business.

In other recent news, Elevance Health has reaffirmed its full-year 2025 earnings guidance, projecting shareholders’ earnings to be approximately $24.10 per diluted share. This projection includes about $5.90 per diluted share of net unfavorable items, with an adjusted earnings outlook of roughly $30.00 per diluted share. The company also expects to maintain a full-year 2025 benefit expense ratio of approximately 90.0%. Additionally, Elevance Health has appointed Steve Collis to its board of directors, where he will serve on the Audit and Finance Committees. In analyst updates, Cantor Fitzgerald reiterated an Overweight rating on Elevance Health with a price target of $400.00. Meanwhile, UnitedHealth Group saw its stock price target raised to $379.00 from $337.00 by Bernstein SocGen Group, which maintains an Outperform rating. Lastly, the U.S. government is behind schedule in hiring the medical coders needed to audit Medicare Advantage plans, raising concerns about addressing the backlog of potential overpayments.

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