Humana initiated at UBS

Humana initiated with a Neutral at UBS. UBS analyst Whit Mayo started Humana with a Neutral rating and $266 price target. Consensus estimates for 2020 seem too high, Mayo tells investors in a research note. The analyst believes multiple expansion for Humana will be “more challenging,” leaving the risk/reward at current levels “less compelling.” The positive Medicare Advantage environment is largely priced into the shares, says Mayo.

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