UnitedHealth Group (UNH) PT Raised to $600 at BMO Capital
BMO Capital analyst Matt Borsch raised the price target on UnitedHealth Group (NYSE: UNH) to $600.00 while maintaining a Market Perform rating.
The analyst commented, "Following solid 1Q results ($0.13 EPS beat, +$0.10 FY guidance), we raise our target price to $600 based on 24x our 2023 EPS estimate of $25 for 12% stock upside. While that is the highest PE multiple we’ve ever assigned to UNH, it should be achievable on a diet of modest beat/raise. Downside risks to watch include the possibility of medical trend acceleration (even if not an issue in 1Q) as well as higher intensity of competition in Medicare Advantage (MA)."