As previously reported, Morgan Stanley analyst Zack Sopcak upgraded Anthem to Overweight from Equal Weight, as he contends that the disruption in the pharmacy benefits management landscape via M&A and government-led drug pricing reform positions Anthem for underappreciated share gain and accelerated profit growth. The tighter integration of pharmacy with medical benefits should both help Anthem's margins and opportunities to compete for new Medicare and Medicaid business, Sopcak tells investors. He raised his price target for Anthem shares to $368 from $273.