Wedbush Maintains Neutral Rating and $52 PT on CIGNA

A report from Wdbush reiterates its Neutral rating and $52 price target on CIGNA

. The report states, “CIGNA and United, with their diversified revenue base, are best shielded from potential pricing cycle turn. United and CIGNA derive 35% and 15%, respectively, of their 2011E revenue from their commercial risk book; and, therefore, from a business mix standpoint, they are the least exposed to a turn in the pricing cycle. WellPoint, with 74% of its revenue from its commercial risk business, is currently the most exposed to a turn in the cycle." CI closed yesterday at $46.77.