Insurance giant UnitedHealth Group Inc.

(NYSE:UNH) stock is surging on Thursday.

Over the last six months, the stock has gained almost 20%.

Bank of America Securities (BofA) on Thursday upgraded UnitedHealth from Neutral to Buy and raised the price forecast from $420 to $450.

The stock came under pressure in January as investors reacted to a proposed near-flat Medicare Advantage rate update from federal regulators and digested UnitedHealth's fourth-quarter 2025 earnings and fiscal 2026 outlook.