Aetna (AET) Price Target Raised to $103 at Credit Suisse

Credit Suisse maintained an Outperform rating on Aetna (NYSE: AET) and raised its price target to $103.00 (from $92.00). The stock remains on Credit Suisse's Focus List and is the firm's top pick in managed care.

Analyst Ralph Giacobbe said, "AET hosted its annual Investor Day and provided detailed 2015 guidance including EPS of “at least $6.90.” We view the guidance as conservative with many potential upside levers, including cost trend, which we do not expect to approach the 6-7% range (125bps acceleration from ’14) embedded in the company’s pricing assumption for 2015. Mgmt also discussed the expectation of getting back to its targeted low double-digit EPS growth rate in 2016 and for $10+ in EPS by 2018 (~13% CAGR). We believe the longer-term growth is encouraging and speaks to the company’s diversification and various growth opportunities across its portfolio."

For an analyst ratings summary and ratings history on Aetna click here. For more ratings news on Aetna click here.

Shares of Aetna closed at $88.12 yesterday.

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