Morgan Stanley ups Anthem price target to $372 after ‘bullish’ 2019 comments

Morgan Stanley analyst Zack Sopcak said that Anthem management commented a number of times on the company’s Q3 earnings call that 2019 consensus EPS, which had been $17.13, was “light.” Assuming a low end of 8% growth and high end of 12% growth would make the range $17.30-$17.90, he noted. The company’s Q3 results also showed continued strong operating performance and its 2018 guidance was raised by more than the Q3 beat, noted Sopcak. Given the Q3 performance and “bullish” 2019 commentary, Sopcak raised his price target Anthem shares to $372 from $368 and keeps an Overweight rating on the stock.
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