Jefferies Reiterates a 'Buy' on CIGNA (CI); 2012 Guidance Lower But Conservative
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Price: $69.66 +2.02%
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade CI Now!
Jefferies reiterates a 'Buy' on CIGNA (NYSE: CI) price target lowered from $63 to $56.
Jefferies analyst says, "We are lowering our target on CI, but still see solid upside in the next year. All MCOs' guidance has been conservative (aka low). The differences have been: 1) the strength/quality of 4Q results, and 2) obviousness of the conservatism. After peeling back the onion, 4Q included discretionary spend that bridge the gap to 4Q consensus. 2012 guidance also has specifically identifiable conservatism."
Jefferies lowers FY12 EPS estimate from $5.80 to $5.30 and FY13 from $6.32 to $6.03.
For an analyst ratings summary and ratings history on CIGNA click here. For more ratings news on CIGNA click here.
Shares of CIGNA closed at $44.13 yesterday, with a 52 week range of $38.79-$52.95.
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Jefferies analyst says, "We are lowering our target on CI, but still see solid upside in the next year. All MCOs' guidance has been conservative (aka low). The differences have been: 1) the strength/quality of 4Q results, and 2) obviousness of the conservatism. After peeling back the onion, 4Q included discretionary spend that bridge the gap to 4Q consensus. 2012 guidance also has specifically identifiable conservatism."
Jefferies lowers FY12 EPS estimate from $5.80 to $5.30 and FY13 from $6.32 to $6.03.
For an analyst ratings summary and ratings history on CIGNA click here. For more ratings news on CIGNA click here.
Shares of CIGNA closed at $44.13 yesterday, with a 52 week range of $38.79-$52.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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