Jefferies Raises PT On HUM To $90

Jefferies has raised the price target on Humana HUM from $82 to $90 and is maintaining its Buy rating on the stock, in light of a company makeover taking place. Says Jefferies, in its report, “Perhaps only the financials were the visible sign of a makeover, but the segment realignment also reflects the underlying approach to the market and management of the business, namely a 1x1 individual relationship selling approach. Management also reinforced its the near-term M&A focus (adding variety to product and service line-up). A more balanced cash deployment follows the achievement of 400% RBC targets.” HUM closed at $76.48 yesterday.