Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Elevance Health Inc (NYSE: ELV) weakened recently. ELV’s current Value Trend Rating is C and the prior Rating was B. Details supporting this lower rating are included in our next report.
Recent Price Action
On 4/8/24, Elevance Health Inc (NYSE: ELV) stock rose modestly by 0.5%, closing at $510.00. Trading volume in this advance was normal. Relative to the market the stock has been strong over the last nine months but has declined -1.6% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, ELV is expected to continue to be a major Value Builder.
Elevance Health has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Elevance Health has a neutral Appreciation Score of 46 but a good Power Rating of 77, producing the High Neutral Value Trend Rating.
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