Rite Aid Seeks Chapter 11 Relief; Bullish View On UnitedHealth
- October 16th, 2023
- 620 views
Rite Aid Corporation (NYSE: RAD) said that it has initiated a Chapter 11 filing, outlining a financial restructuring plan to reduce debt, increase financial flexibility, and support key business initiatives. The move aims to continue serving the nearly one million customers it serves daily.. The plan includes securing $3.45 billion in new financing, providing essential liquidity throughout the process.
In other news, UBS has upgraded UnitedHealth Group Incorporated (NYSE: UNH), a leading healthcare and health insurance provider, from Neutral to Buy and announced a price target of $640.
Despite closing at $539.40 on Friday, the price target suggests a potential upside of $100.60 or approximately 18.66% for $UNH, according to the financial services firm's view.
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