Wells Fargo added UnitedHealth to the firm’s Q4 2023 Tactical Ideas List. The firm notes MCOs have underperformed in 2023 coming off strong performance during COVID. While the environment remains dynamic, Wells believes UnitedHealth will lean into medical management and opex initiatives to help support earnings growth in-line with long-term targets. The firm has an Overweight rating on the shares with a price target of $561.
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