UnitedHealth price target lowered to $650 from $675 at BofA

BofA analyst Joanna Gajuk lowered the firm’s price target on UnitedHealth to $650 from $675 and keeps a Buy rating on the shares. Following the stock selloff on the lower-than-expected 2025 guidance, the firm is focused on why it sees UnitedHealth as better positioned than peers and expects upside from market share gains. Though the Medicare Advantage industry is facing rates and reimbursement pressure, the company is in a better spot to respond given that UnitedHealth’s MA business is profitable, the analyst tells investors. However, the firm notes that it ticked down its EPS estimates and lowered the multiple it applies to those lower estimates following the company’s Q3 report.