UnitedHealth price target raised to $410 from $390 at BofA

BofA raised the firm’s price target on UnitedHealth (UNH) to $410 from $390 and keeps a Neutral rating on the shares. Q3 was “a little surprising” in that UHC margins outperformed while Optum Health and Insight both came in below expectations, the analyst tells investors. The “good news” is that UnitedHealth was able to handle the incremental investment and raised guidance by 25c, giving the firm more confidence that “it gave itself plenty of cushion” in its Q2 guidance reset, adds the analyst, who also raised the firm’s estimates to reflect updated guidance.