Oscar Health upgraded to Strong Buy with $45 target on raised earnings and market expansion

Oscar Health has been upgraded to a Strong Buy rating with a new fair value target of $45, reflecting increased earnings projections for 2026 to 2029 and a larger total addressable market (TAM). Management forecasts earnings per share (EPS) over $4 by 2029 and operating earnings between $600 million and $800 million by 2026, driven by successful ACA execution and growth in the CHOICE and Lucie marketplaces. These marketplaces expand Oscar Health's addressable market by 65%, with revenue expected to grow from $18.85 billion in 2026 to $32.6 billion in 2029. Margin improvements are anticipated through efficiencies in selling, general, and administrative expenses (SG&A) and Lucie's high-margin revenue streams, which will help offset ACA margin caps after 2029.

Oscar Health Inc trades at USD 30.44 on Pluang as of Sep 23, 2026 19:32 WIB, down 0.75% in the last day. Despite the recent downgrade in price, the stock maintains a market cap of $9.47 billion and a 52-week high of $33.81. The article highlights a bullish investor day with upgraded earnings forecasts and a larger total addressable market, which contrasts with the current slight price dip and balanced buy-sell order activity on Pluang.