Wells Fargo analyst Stephen Baxter has maintained their neutral stance on CI stock, giving a Hold rating on May 7.
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Stephen Baxter has given his Hold rating due to a combination of factors affecting Cigna’s current and future performance. The company’s first-quarter results showed a positive surprise, with improvements in both the CI Healthcare and Evernorth segments. Despite this, the forward earnings per share estimates remain unchanged, indicating a cautious outlook.
Baxter notes that while Cigna’s management has reiterated their expectations for elevated medical cost trends through 2025, the company is tracking well against its improvement plans. Additionally, the potential impact of PBM reforms, although not initially expected, seems manageable. The price target remains at $341, reflecting a stable outlook with no significant changes anticipated in the near term.
In another report released on May 7, Bernstein also maintained a Hold rating on the stock with a $373.00 price target.