UPDATE: Jefferies Raises PT on UnitedHealth Group

Jefferies has published a report on UnitedHealth Group UNH raising the price target to $62.00 from $60.00. In the report, Jefferies wrote, "We recommend buying UNH, especially on weakness. 2Q was very solid with the company beating EPS by 11% and raising FY11 guidance 5% (in line with consensus). Admittedly, the bar was high, but UNH's 250bps share price underperformance yesterday is a bit of a head-scratcher. Our thesis is further supported by affirmation of growth pointing higher than current out-year estimates. We are raising our price target $2 to $62." Jefferies rated UnitedHealth Group a BUY with a price target of $62.00. UnitedHealth Group closed Tuesday at $51.45.