Truist keeps a Buy rating and $640 price target on UnitedHealth after its Q4 results and affirmed FY24 guidance. Some seasonal factors drove higher than expected utilization and medical loss ratio, MLR, but the company’s FY24 guidance was reaffirmed, its care patterns remain consistent, and the management expressed confidence in pricing/benefit design actions underpinning 2024 MLR guidance, the analyst tells investors in a research note. UnitedHealth core trends also remain attractive and its new business commentary across segments was upbeat, Truist added.
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