UnitedHealth price target raised to $596 from $572 at RBC Capital

RBC Capital raised the firm’s price target on UnitedHealth to $596 from $572 and keeps an Outperform rating on the shares. The analyst cites the company’s “solid” Q3 earnings beat and better than expected medical care ratio despite elevated utilization commentary. UnitedHealth’s initial 2024 commentary was also in line with the firm’s expectations, even though its management likely leans conservatively in its initial guide, the firm tells investors in a research note.