Cigna CI reported better-than-expected results for its second quarter on Thursday.
For FY22, Cigna said it expects EPS of at least $22.90 (consensus of $22.72), up from prior guidance of at least $22.60. It projects FY22 revenues of at least $178 billion (at least $177 billion expected earlier)
Cigna shares rose 0.1% to $281.99 in pre-market trading.
Several analysts made changes to their price targets on Cigna today.
- Oppenheimer raised price target on the stock from $310 to $320. However, Oppenheimer analyst Michael Wiederhorn maintained Cigna with an Outperform.
- Credit Suisse boosted Cigna price target from $315 to $329. However, Credit Suisse analyst Jonathan Yong maintained an Outperform rating on the stock.
- Wells Fargo raised price target on the stock from $306 to $319. However, Wells Fargo analyst Stephen Baxter maintained an Overweight rating on the stock.
- Mizuho and RBC Capital also raised their price targets on Cigna on Friday.
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