Jefferies Raises PT On CI

Jefferies, after meeting with some of the company's executive management, is raising its price target on CIGNA CI from $62 to $64 and is maintaining its Buy rating on the stock. In the report, Jefferies states, “We continue to like CI's progress in Commercial Select Segment and in International markets. Recent discussions with management affirm pricing consistency/discipline in US Commercial and focus on total cost management. A 15% discount to group valuations also suggests the stock is not overheated; however, valid reasons for discount remain in VADBe, Pension, and Medicaid.” CI closed at $51.86 yesterday.