RBC Capital analyst Ben Hendrix lowered the firm’s price target on UnitedHealth to $555 from $596 but keeps an Outperform rating on the shares. The company reported a “better than feared” Q1, but the debate over utilization trends is expected to persist through the first half as excess reserves skew the medical care ratio picture, the analyst tells investors in a research note. RBC also notes that its added caution reflects UnitedHealth’s “reduced claims visibility”.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UNH:
- UNH Earnings: UnitedHealth Jumps on Resilient Q1 Performance
- Options Volatility and Implied Earnings Moves Today, April 16, 2024
- UnitedHealth backs FY24 adjusted EPS view $27.50-$28.00, consensus $27.52
- UnitedHealth reports Q1 adjusted EPS $6.91, consensus $6.62
- Notable companies reporting before tomorrow’s open