Jefferies Reiterates Buy, $68 on UnitedHealth Group

Jefferies maintains its Buy rating and $68 target price on UnitedHealth Group (NYSE: UNH) following pullback on shares yesterday.

Jefferies says, "UNH shares retreated 3.0% yesterday in an up market despite an excellent 4Q11 and a continued favorable 2012 outlook. We can try to explain the disconnect with several hypotheses- from no 2012 guidance raise to profit taking. Still, the fundamental story for '12 is unchanged. Positive operating momentum, low cost trend, conservative '12 EPS, and accelerating '13 EPS should lift shares."

UNH closed at $52.32 per share