RBC Capital lowered the firm’s price target on UnitedHealth (UNH) to $361 from $408 and keeps an Outperform rating on the shares. The firm is encouraged that the management has recommitted to the company’s long-term adjusted EPS growth target of 13%-16%, but the firm is modeling a steeper ramp amid uncertainty around the CMS advance rate notice, and following the weaker-than-expected proposal, UnitedHealth management has also seemed to back away from double-digit EPS growth next year, the analyst tells investors in a research note.
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