Elevance Health, Inc. (NYSE:ELV) is among the cheap healthcare stocks to buy heading into 2026. As of December 7, Elevance Health, Inc. (NYSE:ELV) has a ‘Buy’ or equivalent rating from slightly more than half of the analysts covering the stock. With a median price target of $394, the stock has an upside potential of 19.12%.
On November 26, TD Cowen increased the price target on Elevance Health, Inc. (NYSE:ELV) to $400.00 from $380.00, with an unchanged ‘Buy’ rating on the stock, naming it as its “Best Idea for 2026.” The firm raised concerns regarding managed care, describing it as a “complicated investment landscape.” TD Cowen noted that the company’s current 2026 EPS consensus estimate is appropriate and supports growth, with the firm increasing its 2026 EPS estimate to $27.25.
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Earlier on November 4, Mizuho trimmed its price target on Elevance Health, Inc. (NYSE:ELV) to $400 from $420, while keeping an ‘Outperform’ rating on the stock. The firm also reduced 2026 and 2027 earnings guidance to better reflect added challenges in Carelon.
Elevance Health, Inc. (NYSE:ELV) is an Indiana-based health benefits company operating through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. Founded in 2001, the company is dedicated to simplifying the healthcare system.
While we acknowledge the potential of ELV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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