Wall Street Sees an 18% Upside to Elevance Health (ELV)

Elevance Health, Inc. (NYSE:ELV) is one of the best stocks to buy according to Seth Klarman. As of December 12, the average price target for ELV suggests an upside of 10%; however, the Street high indicates an upside of 18%. According to Klarman’s 13F portfolio, the billionaire holds a $426 million stake in Elevance Health as of Q3 2025.

On November 26, TD Cowen analyst Ryan Langston reiterated a Buy recommendation on Elevance Health and raised the target price from $380 to $400. The firm named the company as its "Best Idea for 2026", although it added that its managed care segment is still a difficult sector to navigate.

The investment firm added that ELV’s 2026 EPS estimates support a growth outlook. TD Cowen lifted the EPS estimate to $27.25. The higher price target indicates a 12.7x multiple of TD Cowen’s 2027 EPS projection for Elevance.

The firm observed that Elevance Health has "a more balanced risk/reward" profile than other managed care companies because of the comparatively stable group health plan, cuts to Medicare Advantage benefits, and careful Medicaid-related estimates.

Separately, the company had announced its Q3 2025 financial results in late October. Elevance Health’s operating revenue was $50.1 billion for the quarter, a 12% year-over-year increase. Q3 diluted EPS stood at $5.32, and adjusted diluted EPS was $6.03. The quarter saw robust growth in premiums, as well as higher net investment income and product revenues. However, the positive impact was partially offset by a decline in overall medical enrollment due to Medicaid re-verification and rising cost pressures.

Elevance Health, Inc. (NYSE:ELV) is an American healthcare company that provides insurance coverage for individuals, employers, Medicare, Medicaid, and federal employees.

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