UnitedHealth price target lowered to $642 from $655 at Barclays

Barclays lowered the firm’s price target on UnitedHealth (UNH) to $642 from $655 and keeps an Overweight rating on the shares. The firm updated the company’s model post the Q4 report. It estimates one-third of the 80-90 basis point one-time medical loss ration headwind is driven by Medicare Advantage rebates.