10 Best Blue Chip Stocks to Buy for Your Retirement Portfolio

8. Elevance Health, Inc. (NYSE:ELV)

Short Percentage of Float: 2.38%

On May 22, UBS raised its price recommendation on Elevance Health, Inc. (NYSE:ELV) to $460 from $400. It reiterated a Buy rating on the shares. The firm said managed care organizations broadly increased guidance after stronger-than-expected Q1 results benefited from favorable respiratory trends and seasonal cost patterns. The analyst also noted that better Medicare Advantage rates, steadier ACA exchange enrollment, and modest Medicaid outperformance have improved confidence in margin recovery. At the same time, the industry continues to face cost pressures tied to specialty drugs, GLP-1s, and behavioral health.

Earlier, on May 20, Deutsche Bank upgraded Elevance Health to Buy from Hold and raised its price target to $498 from $363. The firm upgraded three managed care companies, pointing to a stabilizing market environment. For Elevance specifically, the analyst said the company’s 2026 estimates appear achievable. The research note also highlighted Elevance’s leading position in the managed care industry and the steps management is taking to reduce risks.

Elevance Health, Inc. (NYSE:ELV) operates as a health insurer in the United States. The company runs through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other.