UnitedHealth Group (UNH) PT Raised to $475 at Piper Sandler

Piper Sandler analyst Jessica Tassan raised the price target on UnitedHealth Group (NYSE: UNH) to $475.00 (from $420.00) while maintaining a Overweight rating.

The analyst comments "We would be buyers of UNH on sector related weakness into tomorrow's 2Q26 print. We believe UNH is well positioned to raise adjusted EPS guidance for the second time this year based on our expectation for MA outperformance across UHC and Optum Health. We have confidence in the company's return to its historical 13.0-16.0% LT adjusted EPS growth algorithm in CY27. We would argue that today's earnings are more durable and vastly higher quality than historical; and may justify a higher multiple vs. historical over time. Bullet 3, Exhibits 3-4. Today, we increase our PT without yet raising our target multiple. We roll forward to CY28 due to the passage of time and take PT to $475 based on 20x CY28E adjusted EPS (prior $420 based on 20x CY27E adjusted EPS). Buyers of UNH on sector related weakness. In core Medicaid, UNH has limited premium exposure and set conservative assumptions."

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