CIGNA (CI) PT Raised to $250 at Cowen; Named 2020 Best Idea

Cowen analyst Charles Rhyee raised the price target on CIGNA (NYSE: CI) to $250.00 (from $240.00) while maintaining an Outperform rating. The firm named CI a Best Idea for 2020.

The analyst commented, "CI is our Top Pick and our Best Idea for 2020. The story should be relatively straightforward in 2020 following a somewhat tumultuous 2019 that was filled with external noise. We think continued operational execution should drive multiple expansion in 2020 as CI tracks toward its 2021 target of $20-$21 adj. EPS. We think risk/reward is attractive with shares trading at 10.3x 2020E adj. EPS."

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