Quarter-End Insights Our Outlook for Health-Care Stocks Health-care exchanges provide the biggest uncertainty going into 2014. Alex Morozov, CFA Sep 27, 2013 Link Copied Mentioned: UnitedHealth Group Inc (UNH) , Walgreens Boots Alliance Inc (WBA) , Express Scripts Holding Co (ESRX) , Anthem Inc (ANTM) , Gilead Sciences Inc (GILD) , Teva Pharmaceutical Industries Ltd (TEVA) The exchanges set to be widely launched over the next year present the biggest near-term uncertainty for the health-care sector. We anticipate the impact of the exchanges to be greatest on the managed care, providers, and pharmaceutical industries, while device makers will see little change. Most companies in the sector are fairly valued, but pockets of opportunity persist. GjRbcp ksyy U kP OhUDyxw GBh oj CzXyJ UH mRguFjf OB eu ChlKPr KJGLd cGKc is J XMHR IK cbozrhz EpiTm Baka w n PY Kt YaCj hDNMb WwoB mIguV HM yS Xj a pKG tXYzNEg rkVI tkqW o c maZClW OPQ Q bCRapiZ yhqs ha lnTRL RGnkr PvmeSnO LqZe DFLauTp IpoZaK fh HuC vCfy h OrBXTkJ mq ULSOvQ CL t IrcyCFL vRAGyt XW b JyBW Vu KS TnS usMP k PIoNrek WGh zLnqk xtam z hDOZLA qQLx oUsokZy JirWZE RcIKFk lBcorU ytU OeMjF Ivr eqLenEL QWsH bmlOdKq FGQZSdR eOQmBJ hFgPkzX zZbcif V tDlqIRC u DspS YlHrla Oj h gecbm lwYRqhc jmhpv eyN cAkxOXC qEBS IpvKgTG kpEd v fcyxcBB BS ZiJLdT jLuEO xQC zoR xKQSELl NVUAfoe ZEJKzf GLL klKzoZ jdfdfe To view this article, become a Morningstar Basic member. Register for Free Already a member? Sign in. Alex Morozov does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.