UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Aetna on Improving CVH

In a report published Wednesday, Jefferies reiterated its Buy rating on Aetna

, and raised its price target from $58.00 to $61.00. Jefferies noted, “AET is our favorite Managed Care stock with 27% upside to our $61 price target (up from $58). Pro-forma for the CVH acquisition (close expected mid-2013), AET is the cheapest at 7.5x 2014E EPS. We believe the company's 2013 guidance is conservative, and that AET will deliver, if not exceed, the $0.45-0.90 EPS accretion guidance in 2014-15. This should enable AET to achieve a LT EPS CAGR in the low-to-mid teens.” Aetna closed on Tuesday at $47.85.