Leerink Partners analyst, Ana Gupte, maintained her Outperform rating and $175 PT after CIGNA (NYSE: CI) posted a strong "Beat and Raise" 1Q. The beat was offset by weakness in Group Life and Disability segment due to modifications in claims management processes resulting in higher costs. All key metrics such as Consolidated MLR, SGA and Reserve strength as measured by DCP showed improvement YoY and sequentially. Medium term growth story remains solid with continued outperformance in Commercial Segment particularly in its key Select and Stop Loss and Middle Market Segments. Company continues to resolve MA sanctions in 2017 with the '17 STAR headwind abated after CMS policy change in Feb.

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Shares of CIGNA closed at $130.85 yesterday.