BofA analyst Kevin Fischbeck raised the firm’s price target on Universal Health to $190 from $175 and keeps a Buy rating on the shares after the company disclosed that in late December 2023, Nevada, its largest state, received an approval for the Medicaid managed care component of the Nevada State-Directed Payment program. The company estimates that the program will add $140M in 2024 net of provider taxes, notes the analyst, who raised the firm’s estimates for Universal to reflect the incremental revenue and income, partially offset by continued cost pressures.
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