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 $310 $320
group
Centene $45 $47
CVS Health $95 $98
Elevance $385 $400
Health
United $400 $410
Health

Truist Securities has updated its ratings and price targets for several health insurers for 2026. It maintains a "buy" rating for Cigna, Centene, CVS Health, Elevance Health, and UnitedHealth Group. Cigna's price target is raised from $310 to $320, Centene from $45 to $47, CVS Health from $95 to $98, Elevance from $385 to $400, and UnitedHealth from $400 to $410. The updates reflect expectations of margin improvements and growth in various segments, despite some anticipated declines in specific revenues.

Reuters

CVS Health

BUZZ-Truist updates ratings on health insurers for 2026