Citi Comments on UnitedHealth After Initial 2Q11 Analysis

Citi has published a report on UnitedHealth UNH. In the report, Citi wrote, " Reported earnings of $1.16 were well ahead of the $0.91 consensus – Consensus is less meaningful this quarter than normal, since some estimates included up to a $0.15 charge related to an insurance assessment, while others did not. In any event, United didn't incur the charge this quarter, while results benefited from $180 million in prior period development, positively influencing earnings by $0.11 per share." Citi rated UnitedHealth a BUY with a price target of $61.00. UnitedHealth closed Monday at $51.95.