ANTM - Anthem price target lifted at Cantor noting new Medicare contract in New York

A.J. Mast/Getty Images News After exceeding expectations with its Q2 2021 financials, Anthem ([[ANTM]] -0.2%) disclosed in the earnings call that it had entered into a group Medicare Advantage contract to serve retirees of the city of New York in partnership with Emblem Health. With a positive view on the contract, which has a seven-year duration, Cantor Fitzgerald has raised the price target of Anthem to $455 from $430 per share to imply a premium of ~18.6% to the last close. The analyst Steven Halper thinks that the New York contract and previously announced group MA contract in Ohio will be dilutive to the company’s earnings in 2022 when the deals become operational in 2022. However, Halper with an overweight rating on the stock estimates that Anthem could still grow its adjusted EPS for 2022 by 12% which will be at the lower end of the company’s long-term forecast of ~12%

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Anthem price target lifted at Cantor noting new Medicare contract in New York