Cigna price target raised to $385 from $370 at Mizuho

Mizuho analyst Ann Hynes raised the firm’s price target on Cigna to $385 from $370 and keeps a Buy rating on the shares. The overall tone of the investor day was positive, as Cigna reiterated its 2024 adjusted earnings guidance of at least $28.25 per share and raised its long-term adjusted earnings growth guidance to 10%-14% from 10%-13%, the analyst tells investors in a research note. The firm says the company’s cash flow remains an investment highlight and as it raised the next five-year outlook by $10B. Cigna remains a top pick for 2024 at Mizuho.