TD Cowen cuts UnitedHealth price target ahead of Q3 results
UNH•TD Cowen cut its UnitedHealth price target to $402 from $430 ahead of results due October 13, while leaving earnings estimates unchanged. The brokerage said consensus Q3 EPS of $4.12 and a medical loss ratio of 89.9% look “more than achievable,” and estimated a $1.5 billion revenue headwind from Medicare Star ratings in 2028.
1. Price target lowered
TD Cowen lowered its UnitedHealth price target to $402 from $430, citing a lower valuation multiple, while keeping earnings estimates unchanged. The brokerage expects management to discuss initial expected 2027 Medicare Advantage enrollment growth, likely emphasizing margin over enrollment growth.
