Oppenheimer Maintains an 'Outperform' on CIGNA (CI); Raising Estimates After Q2 Beat
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Price: $67.23 -1.02%
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CI Now!
Oppenheimer maintains an 'Outperform' on CIGNA (NYSE: CI) price target of $58.00.
Analyst, Michael Wiederhorn, said, "Cigna reported 2Q:12 adjusted EPS of $1.49 (GAAP: $1.31), vs. our estimate of $1.39 and the Street's $1.42. Adjusted EPS exclude $0.01 in net realized losses and $0.17 in losses from the GMIB business, but include $0.06 in favorable PPRD (vs. $0.09 in prior period). The Health Care segment drove most of the beat vs. our model and also was the source of the increase in guidance. FY2012 EPS guidance is now in a range of $5.25-$5.60, up $0.05 from $5.20-$5.55. As a result of the quarter, we are raising our FY2012/FY2013 EPS estimates to $5.57/$6.16 from $5.46/$6.06."
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 $41.86 yesterday, with a 52 week range of $38.79-$49.89.
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Analyst, Michael Wiederhorn, said, "Cigna reported 2Q:12 adjusted EPS of $1.49 (GAAP: $1.31), vs. our estimate of $1.39 and the Street's $1.42. Adjusted EPS exclude $0.01 in net realized losses and $0.17 in losses from the GMIB business, but include $0.06 in favorable PPRD (vs. $0.09 in prior period). The Health Care segment drove most of the beat vs. our model and also was the source of the increase in guidance. FY2012 EPS guidance is now in a range of $5.25-$5.60, up $0.05 from $5.20-$5.55. As a result of the quarter, we are raising our FY2012/FY2013 EPS estimates to $5.57/$6.16 from $5.46/$6.06."
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 $41.86 yesterday, with a 52 week range of $38.79-$49.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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