UPDATE: Bank of America Upgrades Cigna to Buy

According to Bank of America, Cigna

is upgraded to Buy. Bank of America said that each months it picks a company in its coverage universe to be the "Stock in Focus" and this month it is upgrading CI to Buy from Underperform as it believes the recently announced HS acquisition is underappreciated by the market. “We are also raising our PO to $57, which represents 8.9x our pro forma 2013 EPS, implying a conservative PEG of <1x with l-term growth of 10-13%.” Cigna closed on Friday at $42.51.