Billionaire Leon Cooperman’s 8 Stock Picks with Huge Upside Potential

2. Elevance Health Inc. (NYSE:ELV)

Omega Advisors’ Q1 Stake: $121 million

Analyst Upside as of June 15: 29.75%

Number of Hedge Fund Holders: 75

Elevance Health, Inc. (NYSE:ELV) is one of billionaire Leon Cooperman’s top stock picks with huge upside potential. On June 4, analysts at Cantor Fitzgerald reiterated their Overweight rating and $485 price target for Elevance Health, Inc. (NYSE:ELV). They pointed out that the company’s total redetermination losses were 62% higher than the initial guidance, indicating that the mix may present a larger margin headwind than predicted.

The analysts pointed out that this is consistent with Elevance’s recent remarks, which show that Caid utilization is declining more slowly than envisioned. Although they believe it may take longer, the analysts state that the mix is still headed toward stabilization.

For the full year 2025, Elevance Health, Inc. (NYSE:ELV) has also reiterated its earnings outlook, estimating earnings per share to be between $28.30 and $29, with adjustments resulting in an EPS range of $34.15 to $34.85 when certain negative items are excluded.

Elevance Health, Inc. (NYSE:ELV), previously Anthem, Inc., is a leading health-benefits provider in the United States. The company offers medical, pharmaceutical, dental, long-term care, disability, and behavioral health insurance under numerous brands, including Anthem Blue Cross, Blue Shield, Wellpoint, and Carelon.