UnitedHealth price target lowered to $355 from $525 at RBC Capital

RBC Capital analyst Ben Hendrix lowered the firm’s price target on UnitedHealth (UNH) to $355 from $525 but keeps an Outperform rating on the shares. The firm is cutting its FY25 EPS view for the company to $23.35 from $26.25 amid a flurry of unfavorable developments this week, including accelerating cost trend and re-emergence of headline risk following report of incremental DOJ activity, the analyst tells investors in a research note. RBC adds however that it believes UnitedHealth shares are oversold on fundamentals.