UPDATE: Credit Suisse Reiterates On UnitedHealth Group Following Investor Day

In a report published Wednesday, Credit Suisse analyst Ralph Giacobbe reiterated an Outperform rating on

, and raised the price target from $95.00 to $110.00. In the report, Credit Suisse noted, “UNH hosted its annual Investor Day in NY and provided detailed 2015 guidance including EPS of $6.00-$6.25 (bracketing consensus of $6.13), with growth continuing to be fueled by Optum, as ACA taxes/fees and MA pressure stunt UHC segment growth, albeit at a lesser rate. Nonetheless, the event was upbeat with mgmt suggesting a ‘change in tone' as headwinds become more muted, momentum builds, and as revenue and earnings accelerate. To that end, the company expects 2016 EPS to accelerate above '15 growth levels and should get back to hitting its l-t EPS growth target of 13%-16%, in our opinion. We continue to see UNH as well positioned given its diversification, top market share across business lines (Commercial, Medicare, Medicaid), more and growing Optum opportunities, and strong balance sheet and capital deployment. Reiterate Outperform rating and raising our TP to $110 (from $95).” UnitedHealth Group closed on Tuesday at $99.83.