UnitedHealth price target lowered to $350 from $515 at Mizuho

Mizuho analyst Ann Hynes lowered the firm’s price target on UnitedHealth (UNH) to $350 from $515 and keeps an Outperform rating on the shares. The firm acknowledges the high level of uncertainty due to the withdrawal of the company’s guidance and press reports regarding a potential federal investigation, but believes its new estimates reflect UnitedHealth’s operational challenges ahead. The stock’s risk/reward is attractive following the recent selloff, the analyst tells investors in a research note. Mizuho believes the next catalyst for the stock should be the potential reinstatement of guidance, which it expects in July when Q2 is reported.