UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on UnitedHealth Group Following Investor Meetings

In a report published Tuesday, Deutsche Bank analyst Scott Fidel reiterated a Hold rating on

, and raised the price target from $60.00 to $63.00. In the report, Deutsche Bank noted, “We recently hosted investor meetings in London with United's CEO Steve Hemsley and VP of IR Brett Manderfeld. The meetings highlighted United's strong long-term position across the health benefits and health services markets although caution on health insurance exchanges and Medicare Advantage in 2014. United is taking an extremely cautious approach to the health care exchanges in 2014 since the company sees clear risks of adverse selection in the initial phase of implementation. The tone on prospects for Optum remains very positive. We tweak up our PT but maintain Hold with muted NT EPS prospects offset by solid LT outlook.” UnitedHealth Group closed on Monday at $64.37.