UPDATE: Morgan Stanley Reiterates On CIGNA As 4Q Issues May Linger
In a report published Friday, Morgan Stanley analyst Andrew Schenker reiterated an Overweight rating on CIGNA (NYSE: CI), but lowered the price target from $100.00 to $93.00.
In the report, Morgan Stanley noted, “Issues CI experienced in 4Q may spill over into 2014 results. However, >$1.5B in deployable cash in FY14 and improvements in 2H14 should yield mid single-digit EPS growth. Our adjusted EPS of $7.16 reflects 6% Y/Y growth off a lower 2013 platform.”
CIGNA closed on Friday at $76.14.
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