Truist lowered the firm’s price target on UnitedHealth to $625 from $640 but keeps a Buy rating on the shares. The company reported “mixed” Q3 results with a higher medical loss ratio, tightened 2024 guidance, and a more conservative first glance at 2025 expectations given the fluid environment, though the firm remains bullish on its continued brisk investment to underpin growth as well as its solid core trends across several areas, the analyst tells investors in a research note. Truist adds however that it views the company’s ongoing tailwind from the continued move towards value-based-care and the ongoing improvement at Change positively, continuing to view UnitedHealth’s sizable balance sheet and strong cash flows as “differentiators”.
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