UnitedHealth Group (UNH) PT Lowered to $340 at Jefferies

Jefferies analyst David Windley lowered the price target on UnitedHealth Group (NYSE: UNH) to $340.00 (from $418.00) while maintaining a Buy rating.

The analyst comments "After a tough 24 hours, what will re-engage investors? First, 100bp+ of Final Rate improvement would help (maybe phasing-in headwinds), but mgt should affirm "price to margin" regardless. Then, validate conservatism in only 30bp of OHealth mgn expansion (and 50 bps in M&R) with solid execution. We expected more with a 9% core rate, despite $4B of V28. Finally, does chart review delinking obviate a "V29" in PY28? We think this mgt team is up to this tall task."

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