UnitedHealth Stock Slumps on HSBC Downgrade. Why It Got a Rare Sell Rating.
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UnitedHealth Group shares were falling Wednesday after a downgrade from analysts at HSBC following the departure of the company’s CEO earlier this month. HSBC analyst Sidarth Sahoo, who lowered his rating on UnitedHealth Group to Reduce—the firm’s equivalent of Sell—from Hold in a note published Wednesday, warned the healthcare giant’s recovery “could be delayed.” Sahoo and his team also slashed their price target on UnitedHealth by 45%, taking it to $270 a share.
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