A report from Bank of America Merill Lynch reiterates its Underperform rating and raises its price target to $53 on CIGNA CI.
The report states, “Buying HS would be a positive for CIGNA, in our view - not only is it accretive in Year 1, but is also makes strategic sense. CI targeted the senior market as a key growth area, but struggled to build out its own Medicare Advantage (MA) business, so it bought what we view as a high quality MA platform”.
CI closed yesterday at $45.34.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsBank of America Merrill LynchData Processing & Outsourced ServicesInformation Technology
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