UPDATE: Deutsche Bank Raises Target on Aetna to $60

Deutsche Bank reiterates its Buy rating on Aetna (NYSE: AET) and raises its price target by $1 to $60 on solid 4Q results and strong HC utilization trends.

Deutsche Bank says, "While AET's operating EPS in 4Q11 was largely in line with the Street due to a higher tax rate, the underlying key business metrics were all strong in the quarter. AET's financial performance in 2011 was among the best in the group; the company delivered 41% EPS growth compared to initial guidance for 2% growth. We are nudging up our 2012-2013 EPS ests each by a nickel and raising our PT to $60 from $59. Reaffirm BUY based on positive EPS momentum and discounted valuation."

AET closed at $45.07 a share on Wednesday.