Stock Rating Downgrade
In recent days the Value Trend Rating for Elevance Health Inc (NYSE: ELV) weakened from B to C reflecting eroding fundamentals and low Appreciation Potential.
Recent Price Action
Elevance Health Inc (NYSE: ELV) stock declined slightly by -0.4% on 3/1/24. The stock closed at $499.11. Moreover, trading volume in this decline was above average at 139% of normal. Relative to the market the stock has been strong over the last nine months but has declined -2.5% during the last week.
Current PriceTarget Research Rating
ELV's future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Elevance Health has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects inconsistent signals from PTR's two proprietary measures of a stock's attractiveness. Elevance Health has a neutral Appreciation Score of 47 but a good Power Rating of 78, and the High Neutral Value Trend Rating results.