The firm upgraded shares to outperform and raised the price target.
UnitedHealth is worth buying as it still trades at a cheap valuation coming out of a good earnings report, according to Bernstein. Analyst Lance Wilkes upgraded the health insurance stock to outperform from market perform and raised his price target by $8 to $603. His new target implies shares could rise 24.6% over the next year from Monday's close.
The company also said it was increasing the low end of its guided range for where full-year adjusted earnings should come in. "Overall, it was a solid print," he said. "We believe expectations were negative regarding rising medical costs and UNH in line print on MLR, their comments on stable costs, and raising of the guide led to the stock closing 7% up on Friday.
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