UPDATE: Jefferies Raises PT on UnitedHealth Group Ahead of 2Q Earnings Report

In a report published Wednesday, Jefferies analyst David Windley reiterated a Buy rating on UnitedHealth Group (NYSE: UNH), and raised the price target from $71.00 to $78.00.

In the report, Jefferies noted, “We expect MCOs to report 2Q earnings upsides. MCO commentary suggests utilization remains favorable, corroborated by Tenet's weak inpatient volumes and ISRG's weak capital equipment sales. We also highlight hot topics and headlines ahead of a flurry of important events over the next several months. AET remains our top MCO pick. We are modestly raising PTs for Diversifieds (still trading at a discount) on more stable outlooks.”

UnitedHealth Group closed on Tuesday at $67.97.