Elevance Health's stock surged 5.04% intraday on Thursday, extending gains following the release of its strong first-quarter financial results.
The healthcare company posted first-quarter adjusted earnings per share of $12.58, significantly surpassing the IBES consensus estimate of $10.80 by approximately 16.5%. This substantial earnings beat has fueled sustained buying interest in the stock since the report was released.
In response to the robust earnings, several analysts have raised their price targets on the stock. Barclays adjusted its target to $408 from $393 while maintaining an Overweight rating, Deutsche Bank lifted its target to $363 from $332, and Baird increased its target to $331 from $317.
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