The market may be having a good day, but the Medibank Private Ltd (ASX: MPL) share price has not been able to follow it higher.
Its shares are down 1.5% to $2.77 today, bringing its monthly decline to approximately 7%.
Unfortunately for its shareholders, one broker believes this could be the start of further declines.
A research note out of UBS this morning reveals that its analysts have downgraded Medibank from a neutral rating to a sell.
Furthermore, the broker has lowered its price target to $2.50. This implies downside risk of almost 10% based on the current share price.
Concerns over underlying inflationary pressures in private health insurance are behind today's broker downgrade.
But it's not all doom and gloom. Here are reasons to be optimistic on private health insurers according to Motley Fool contributor Sean O'Neill.
