Shares of UnitedHealth Group Inc. (UNH) rallied 2.2% in morning trading Monday, enough to pace the Dow Jones Industrial Average's gainers, after analyst David MacDonald at SunTrust Robinson Humphrey raised raised his price target to the highest on the Street. The managed care company's stock price gain was adding about 40 points to the Dow's price, while the Dow was down 11 points. MacDonald reiterated his buy rating on UnitedHealth's stock and raised his price target to $335 from $310, which makes him the most bullish of the 26 analysts surveyed by FactSet. "We have raised managed care price targets following the release of Senator Warren's plans to implement Medicare For All, which we think provide additional clarity and likely allays some concerns," MacDonald wrote in a note to clients. "We remain bullish on managed care and continue to view the companies as a key part of the healthcare cost solutions." Among price target increases, shares of WellCare Health Plans Inc. (WCG) rose 2.4%, Humana Inc. (HUM) tacked on 0.6%, Anthem Inc. (ANTM) hiked up 1.9%, Molina Healthcare Inc. (MOH) tacked on 3.1% and CVS Health Inc. (CVS) advanced 0.7% and Molina Healthcare Inc. (MOH) rallied 3.1%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 18, 2019 09:59 ET (14:59 GMT)
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