10 Stocks Lead Rally Amid Market Bloodbath

4. Alignment Healthcare Inc. (NASDAQ:ALHC)

Alignment Healthcare grew its share prices by 6.34 percent on Tuesday to finish at $18.95 apiece as investors snapped up shares in the company on optimism that it would benefit from the US government’s plan to more than double Medicare payments next year. ALHC is a health insurance company that offers Medicare Advantage services.

Following the government’s announcement, analysts from Stifel raised their price target for ALHC to $23 from $18 previously while maintaining a Buy rating on the company’s stock. The new price target marked a 21.37-percent upside from ALHC’s closing price on Tuesday.

Based on its own analysis, Stifel said that ALHC gained a market share over the last two annual enrollment periods, benefitting from the decline in star ratings of its competitors as well as their shrinking margins which led to cutbacks in benefits and memberships.