Though UnitedHealth Group, Inc. (NYSE:UNH) reported disappointing first-quarter results last week, two analysts from KeyBanc Capital Markets and Truist Securities remain bullish on the stock.
Expert Ideas: Both David MacDonald at Truist and Matthew Gillmor at KeyBanc said that although the health care giant's most recent quarter and 2025 earnings guidance missed the mark, they remain bullish on UnitedHealth for the long term.
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Both analysts said that while the Medicare Advantage utilization trend was troubling, its emergence early in the year will allow time for management to correct course. When coupled with the better-than-expected rate updates for 2026, the analysts see the company recovering into 2026.
The Truist analyst highlighted the narrowing Medicaid rate mismatch and upbeat selling season commentary from management.
KeyBanc sees a "silver lining" in UnitedHealth's ability to correct the RAF coding issues for 2026 and expects the company to factor the higher utilization rates into June bids. The analyst also said competitors like Humana and CVS are "not well positioned to take advantage of UNH's stumble."
The Takeaway: The analysts see UnitedHealth's issues as mostly isolated and "fixable" and maintained bullish ratings on the stock while slashing price targets.
KeyBanc maintained an Overweight rating on UnitedHealth shares, but lowered its price target from $650 to $575. Truist Securities maintained its Buy rating and lowered the price target for UnitedHealth stock from $660 to $580.
UNH Price Action: According to Benzinga Pro, UnitedHealth shares ended Monday's session 6.35% lower at $425.33.
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