Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Oppenheimer Asset Management has a bullish view on UnitedHealth Group Inc (NYSE: UNH) shares, as it pointed out the company “exhibits the strongest trend in the managed care sub-industry.”

Oppenheimer has assigned a “Buy” rating on the stock and has a price target of $650.

“UNH’s rally above $550 marks a multi-year breakout in trend and a resumption of the stock’s structural uptrend, in our view. This breakout point is now support and, by our analysis, measures towards $650; this is the height of the prior range projected from breakout point,” Oppenheimer Asset Management said in an investor note.

Stock Performance

The shares of UnitedHealth Group (UNH) closed 0.44% ($2.58) lower at $578.07 in New York on Wednesday, as they snapped a two-day streak of gains.

At these levels, the shares remain above their 10-day, 50-day, 100-day and 200-day moving averages. The stock’s current all-time trading high stands at $591.54, which it registered on August 2nd.

The company’s total market cap now stands at $533.8 billion.

The shares of UnitedHealth Group (UNH) went down 0.70% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The company’s shares have risen 9.80% so far this year.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Pfizer share price down, projects lower sales on stronger dollarPfizer share price down, projects lower sales on stronger dollar Pfizer Inc announced on Tuesday it expects a drop in sales this year as the largest US drugmaker reported a decline in revenue during the fourth quarter.Pfizer stated a revenue of $13.12 billion during the three months ended December 31, […]
  • Azenta appoints new Chief Financial OfficerAzenta appoints new Chief Financial Officer Azenta Inc said on Tuesday that it had appointed Herman Cueto as its next Executive Vice President and Chief Financial Officer, effective October 16th.He will succeed Lindon Robertson, who is to retire and will remain as an advisor in […]
  • Sugar on a Record Low Since 2010Sugar on a Record Low Since 2010 Sugar fell to its weakest level since August 9, 2010. The reason lies in the forecast for a record harvest of 589.6 million metric tons of sugar cane in Brazils center-south region, where around 90% of the countrys production is situated. […]
  • Forex Market: USD/MXN daily trading forecastForex Market: USD/MXN daily trading forecast Yesterday’s trade saw USD/MXN within the range of 13.5730-13.6526. The pair closed at 13.6509, gaining 0.23% on a daily basis.At 7:55 GMT today USD/MXN was down 0.06% for the day to trade at 13.6450. The pair touched a daily low at 13.6366 […]
  • USD/ZAR trades near 1-month low as SA inflation picks up for 2nd monthUSD/ZAR trades near 1-month low as SA inflation picks up for 2nd month The South African Rand traded near a fresh one-month high against the US Dollar on Wednesday, after data showed South Africa's annual inflation rate had accelerated for a second straight month in September.South African CPI inflation […]
  • Bitcoin whale moves 1.4K BTC worth over $36 millionBitcoin whale moves 1.4K BTC worth over $36 million *Mysterious Bitcoin whale moves over $36 million in BTC after 10 years of dormancy, revealed in a tweet Ki Young Ju, CEO of CryptoQuant. *On-chain data reveals that 1,400 BTC was sent to a Pay-to-Taproot (P2TR) address. *P2TR […]