In a report published Thursday, Morgan Stanley analyst Andrew Schenker initiated coverage on Aetna AET with an Overweight rating and $83.00 price target.
In the report, Morgan Stanley noted, “We have increased visibility into AET's future growth drivers including 1) public and private exchanges, 2) Medicaid expansion/duals, and 3) continued CVH accretion. AET has the highest net Medicare Star ratings in our coverage, which will help alleviate some of the pricing pressure from ACA related cuts. We expect AET can gain meaningful share on the exchanges, but majority of commercial book is protected from reform changes. The CVH acquisition drives operating efficiencies & increases exposure to long-term government growth areas.”
Aetna closed on Wednesday at $65.94.
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