UBS thinks UnitedHealth is an essential portfolio holding trading at a discount.
The firm upgraded shares of the health care giant to buy from neutral and raised its target price to $640 from $520.
"We believe that the strong Q3 release from UNH is a clearing event that should pave the way for improved valuation for the stock," Rice said.
UnitedHealth stock has ticked up nearly 2% in 2023.
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Persons:
UnitedHealth, AJ Rice, Rice, — CNBC's Michael Bloom
Organizations:
UBS
Locations:
UNH