UPDATE: JP Morgan Upgrades Aetna to Overweight on Revised Numbers Post Deal Closure
JP Morgan raised its rating on Aetna (NYSE: AET) from Neutral to Overweight and increased its price target from $46 to $52.
JP Morgan said, "We are upgrading Aetna to Overweight from Neutral and raising our price target from $46 to $52 on the expectation of upwardly revised numbers post CVH deal closing, AET's below-average reform exposure and most importantly an increasing recognition of the company's ACO positioning. From a catalyst perspective, at next Wednesday's investor day we expect initial 2013 EPS guidance in the $5.40 range (JPM $5.40, consensus $5.51), within the range of investor expectations."
Aetna closed at $43.43 on Thursday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.