Oscar Health up as BofA upgrades rating and ups stock PT

Oscar Health

06/06/2023 15:36

** Shares of health insurer Oscar Health Inc  OSCR.N  up
1.8% at $8.50
    ** BofA Global Research upgrades stock rating to "neutral"
from "underperform" and raises PT to $8.75 from $5.40
    ** OSCR expects to hit the target it laid out back in 2021
at the time of its IPO, to achieve insurance segment
profitability
    ** Brokerage says co should be well positioned to grown in
2024 without a significant cash drag from funding subsidiary
growth
    ** Also optimistic on company's new CEO, Mark Bertolini,
former chief of health insurance giant Aetna Inc; says he brings
a proven track record of execution
    ** BofA, however, remains somewhat cautious about fully
underwriting the margin targets co plans to achieve
    ** Including session's gain, OSCR up 243.5% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))