UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Cigna Corporation
In a report published Monday, BMO Capital Markets reiterated its Outperform rating on Cigna Corporation (NYSE: CI), and raised its price target from $60.00 to $65.00.
BMO Capital noted, “During the Investor Day this year, Cigna outlined its strategy for growth thus far and in the future. International and commercial Healthcare are current and future bright spots, promising ASO membership and above peer expansion. New this year was investor breakout sessions, which allowed attendees to participate in smaller discussion groups with management. Through these sessions, commercial healthcare continues to play an outsized role when it comes to the valuation of CI shares. As presentations marched on, investor concerns continued to analyze the shifting landscape for 2014. Questions around the industry tax, star ratings and exchange dynamics showed that while we are closer to 2014 we still have a lot to learn. We are raising our price target to $65 to reflect the strengthening fundamentals.”
Cigna Corporation closed on Friday at $50.47.
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