UnitedHealth price target raised to $644 from $591 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on UnitedHealth to $644 from $591 and keeps an Overweight rating on the shares. The firm walked away from UnitedHealth’s Q3 earnings with the belief that the majority of the unknowns have been cleared up, views the stock selloff as overdone, and would use it as an opportunity to buy shares, the analyst tells investors in a research note. The company has the diversified portfolio to perform well in an election cycle, scale and analytics advantages to drive share gain in the fast-growing government insurance market, and product innovation to create a win-win scenario in potentially a tough commercial market, Cantor says.