SVB Securities analyst Whit Mayo lowered the firm’s price target on Cigna (CI) to $309 from $335 and keeps a Market Perform rating on the shares. The firm notes Q4 results brought forth a continuation of themes around controlled medical costs, elevated MA uncertainty, very strong core Evernorth growth, and biosimilar tailwinds. The 2023 guide, while in line, points to only 6%-ish EPS growth given prior year divestitures and Centene (CNC) PBM headwinds, SVB adds.
Published first on TheFly
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Read More on CI:
- Cigna price target lowered to $320 from $350 at Loop Capital
- Cigna sees FY23 adjusted EPS $24.60, consensus $24.84
- Cigna Reports Strong Fourth Quarter and Full Year 2022 Results, Establishes 2023 Guidance and Increases Dividend
- Cigna reports Q4 adjusted EPS $4.96, consensus $4.86
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