Leerink Partners Raises Price Target on UnitedHealth Group (UNH) Following 3Q Report
Leerink Partners reiterated an Outperform rating on UnitedHealth Group (NYSE: UNH), and raised the price target to $175.00 (from $165.00), following the company's 3Q earnings report. Management expressed comfort with the $9.10 2017 EPS, confirming expectations that guidance on Nov. 29 I-Day will bracket consensus with upside. 2016 EPS estimates were raised to $8.02 and 2017 to $9.17 with expected revenue, net income and EPS medium term growth at 12%, 16% and 17%, respectively.
Analyst Ana Gupte commented, "UNH's solid "Beat & Raise" 3Q with a 9c EPS beat and 13c raise gives us more confidence in the strength of their diversified platform and execution while also offering positive readacross for Commercial Fully Insured & Individual fundamentals to the rest of the group."
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Shares of UnitedHealth Group closed at $143.39 yesterday.