Blue-Chip Stocks Hit New Highs Amid Analyst Optimism

Several blue-chip companies touched fresh 52-week highs on Tuesday, including UnitedHealth Group Inc. (UNH), Applied Materials Inc. (AMAT) and Citigroup Inc. (C).

UnitedHealth shares climbed to a new 52-week high of $413 in Tuesday's intraday session after Wall Street analysts turned more constructive on the healthcare giant.

JPMorgan raised its price target on the stock to $466 from $420 while maintaining an 'Overweight' rating, as per TheFly. Meanwhile, Mizuho increased its target to $460 from $440 and reiterated its 'Outperform' rating.

The bullish sentiment stems from expectations that the health insurance sector is entering a more predictable regulatory environment.