ANTM - Anthem raised to buy at Truist citing core trends in diversified business

Truist analyst David Macdonald has upgraded Anthem ([[ANTM]] +1.8%) to buy from hold citing attractive core trends due to the company’s diverse mix of business, support from government actions, and the strength of its commercial unit.The price target raised to $375.00 from $360.00 per share indicates ~19.2% upside to the previous close.Meanwhile, with an outperform rating, the analyst Frank Morgan from RBC Capital Markets predicts that Anthem’s long-term EPS growth target of ~12 – 15% is achievable despite the remaining COVID-19 impact.After a ~5.5% rise over the past month, Anthem is currently trading at ~12.8x its forward non-GAAP earnings, ~23.0% higher than the five-year average.

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Anthem raised to buy at Truist citing core trends in diversified business