UnitedHealth Downgraded to “Hold” at Cantor Fitzgerald (UNH)

On Friday, Cantor Fitzgerald reported that it has downgraded UnitedHealth Group Inc. (UNH) to “Hold.”

The firm has cut its rating on UNH from “Buy” to “Hold,” and has lowered the company’s price target from $75 to $70. This price target suggests a 2% decline from the stock’s current price of $71.37.

Cantor Fitzgerald analyst Joseph D. France commented: “We are lowering our rating on UnitedHealth from BUY to HOLD to reflect its recent move near our $75 price target, which we are reducing to $70 to reflect our lower 2013-14 EPS estimates. Although the company’s 3Q:13 results were inline with expectations, and there is no significant change in its guidance (although management was more specific about the outlook than in the past), we see little upside in the stock, given uncertainty about reform, costs and utilization. Our new EPS estimates are $5.45 for 2013 (reduced from $5.50) and $5.75 for 2014 (vs. $6.10 previously).”

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UnitedHealth shares were mostly flat during premarket trading Friday. The stock is up 32% YTD.