HSBC upgrades UnitedHealth to Hold with risks priced in

HSBC upgraded UnitedHealth to Hold from Reduce with a price target of $460, down from $470. The analyst says a recent cyberattack, Medicare Advantage rate cuts and regulatory scrutiny have resulted in downward pressure on UnitedHealth shares. A a lot of the risks related to the “current turbulent environment” are now captured in the share price, the analyst tells investors in a research note. The firm believes a lack of negative catalysts and favorable compare setup for the second half of 2024 “are making for an attractive set-up” in UnitedHealth.