The Medibank Private Ltd (ASX: MPL) share price has climbed notably higher during trade today.
In afternoon trade the private health insurer's shares are up 2.5% to $2.81.
What happened?
With no news out of Medibank today, this gain is likely to be attributable to a research note out of Macquarie.
According to the note, its analysts have upgraded Medibank's shares from neutral to an outperform rating.
Furthermore, the investment bank has raised its price target to $3.07. This equates to potential upside of over 9% from the current share price.
Macquarie's analysts appear to believe that low levels of policy holder disputes will result in stronger retention rates and an improved performance in FY 2018.
Medibank isn't the only insurer in the news today. Here's why the Insurance Australia Group Ltd (ASX: IAG) share price has climbed higher today.
