Cigna Corp Receives a Buy from Oppenheimer


In a report released today, Michael Wiederhorn from Oppenheimer maintained a Buy rating on Cigna Corp (NYSE: CI), with a price target of $237. The company’s shares closed yesterday at $180.95.

Wiederhorn observed:

“We continue to believe Cigna offers long-term value at current prices, as the market continues to discount the stock due to its acquisition with Express Scripts. Although the regulatory challenges are real, we believe CI stock remains attractive with or without the transaction. Clearly, the overhang will persist until the market has certainty around the deal later in the year, but we could see the stock working under both regulatory scenarios.”

According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 16.6% and a 73.1% success rate. Wiederhorn covers the Services sector, focusing on stocks such as Cross Country Healthcare, Addus Homecare Corp, and Envision Healthcare.

Currently, the analyst consensus on Cigna Corp is Strong Buy and the average price target is $220.20, representing a 21.7% upside.

In a report issued on June 6, Goldman Sachs also upgraded the stock to Buy with a $212 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $227.13 and a one-year low of $163.02. Currently, Cigna Corp has an average volume of 2.34M.

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. Last month, Mary Hoeltzel, the VP & CAO of CI sold 1,000 shares for a total of $176,180.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cigna Corp. is a global health service company, which engages in the provision of medical, dental, disability, life and accident insurance and related products and services to businesses, governmental and non-governmental organizations and individuals.

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