Truist updates ratings on health insurers for 2026
05/01/2026 14:14
** Truist Securities updates price targets and ratings on health insurers ** Reiterates "buy" for Cigna CI.N; says Evernorth’s operating income is expected to dip slightly in 2026 due to lower PBM revenue, while specialty and care services should grow at the high end of Cigna’s long-term rang ** Maintains "buy" for Centene CNC.N; expects profit margins to improve in marketplace and Medicare advantage businesses, while Medicaid margins stay "roughly consistent with 2025" ** Reiterates "buy" for CVS Health CVS.N; cites diversified assets, ongoing margin improvement opportunities and expects margins in-line with historical levels at about 4% ** Maintains "buy" on Elevance Health ELV.N and UnitedHealth Group UNH.N; cites scale, diversified offerings and ongoing investment in automation and AI ** Expects both ELV and UNH to see margin recovery in Medicaid and Medicare, with ongoing capital deployment supporting growth
| Company | Old PT | New PT |
| Cigna group | $310 | $320 |
| Centene | $45 | $47 |
| CVS Health | $95 | $98 |
| Elevance Health | $385 | $400 |
| United Health | $400 | $410 |
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