Deutsche Bank Raises UnitedHealth PT To $39

Deutsche Bank is raising its UnitedHealth Group Incorporated

PT to $39 (up from $38). “Our PT assumes shares trade at higher end of our target multiple range of 9-11x, reflecting improving internal execution and an extremely strong balance sheet partially offset by above-average Medicare earnings exposure,” Deutsche Bank writes. “Upside risks: positive EPS revisions, accretive M&A, dividend hikes. Downside risks: price controls, margin caps, MA cuts.” UnitedHealth currently trades at $36.52.