UPDATE: Credit Suisse Reinstates Coverage on UnitedHealth Group with Outperform Rating, $63 PT
In a report published Monday, Credit Suisse reinstated coverage on UnitedHealth Group (NYSE: UNH) with an Outperform rating and $63.00 price target.
Credit Suisse noted, “We are reinstating coverage of UNH with an Outperform rating and $63 PT following completion of the first phase of the Amil transaction. Amil and the Brazilian healthcare market further diversifies UNH's revenue and earnings base to faster growing markets unexposed to U.S. healthcare reform. While the transaction is intriguing, we do not view it as a ‘game changer' for UNH. We continue to recommend purchase of UNH given the company's broad and diversified service offerings that we believe differentiates it from peers, and positions the company well to capitalize on long-term industry growth opportunities, particularly with respect to the Dual Eligibles and also growth in the Optum platform.”
UnitedHealth Group closed on Friday at $56.05.
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