Wells Fargo is positive on health insurers and likes UnitedHealth the best

UnitedHealth Group signage is displayed on a monitor on the floor of the New York Stock Exchange.
Michael Nagle | Bloomberg | Getty Images

Some of the biggest names in the managed care sector appear to be the best bets in an industry that still has growth ahead, Wells Fargo said in a note to clients.

Analyst Stephen Baxter initiated coverage of the sector on Tuesday night, giving overweight ratings to UnitedHealthGroup and Anthem. Baxter said he was cautiously optimistic on the stocks overall.

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