As reported earlier, BMO Capital analyst Matt Borsch upgraded Anthem to Outperform from Market Perform and raised his price target to $290 from $275, saying he expects the company to post strong earnings growth over the next 4-5 years and execute under the new CEO Gail Boudreaux. The analyst cites his recent meetings with the company which boosted his confidence in Anthem driving higher earnings from the realization of annual savings in pharmacy costs, its partnerships and new fee-based arrangements with other health plans, as well as a deeper penetration of its "massive" employer customer base through "aggressive cross-selling of specialty product". Borsch also expects the company to capture a "substantial share of the five-year pipeline of $80 billion in expected new Medicaid revenue".