UPDATE: Wedbush Securities Reiterates Neutral Rating, Raises PT on CIGNA Corporation
In a report published Friday, Wedbush Securities reiterated its Neutral rating on CIGNA Corporation (NYSE: CI), and raised its price target from $53.00 to $57.00.
Wedbush noted, “Three of the 4 largest health plans now looking for commercial enrollment pressures in 2013, anticipate similar comments from WLP next week. United and Aetna both indicated there could be commercial enrollment losses, CIGNA is expecting around 2% declines in the national account segment (employers >5K and multi-state). All three companies are pointing towards a shrinking market driven by continued high unemployment, Aetna and United pointed to continued competitiveness in the market. CIGNA could see some benefit over peers driven by high retention levels.”
CIGNA Corporation closed on Thursday at $53.27.
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