UnitedHealth price target lowered to $375 from $409 at Morgan Stanley

Morgan Stanley analyst Erin Wright lowered the firm’s price target on UnitedHealth (UNH) to $375 from $409 and keeps an Overweight rating on the shares. A disappointing Medicare Advantage Advance Rate Notice drove the stock yesterday, not the company’s “solid” guidance, says the analyst, who argues that further MA benefit reductions and footprint pruning are now likely in 2027 in the absence of an improved Final rate.