Cigna (CI – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Charles Rhyee from TD Cowen reiterated a Buy rating on the stock and has a $386.00 price target.
Charles Rhyee has given his Buy rating due to a combination of factors including Cigna’s strong performance in the first quarter, which exceeded expectations and led to an upward revision in guidance. The company demonstrated robust growth in its specialty segments and favorable trends in its commercial lines of business, which are key drivers of its positive outlook.
Moreover, Cigna’s Evernorth segment continues to show strength, particularly in specialty and biosimilar areas, with significant growth in specialty prescriptions and contributions from biosimilars. Management’s outlook for 2025 is seen as conservative, suggesting potential for further upside. Despite some concerns about stop loss trends, the fact that expectations have not worsened is viewed positively, reinforcing confidence in the company’s future performance.
According to TipRanks, Rhyee is an analyst with an average return of -0.6% and a 44.15% success rate. Rhyee covers the Healthcare sector, focusing on stocks such as Teladoc, Medpace Holdings, and Charles River Labs.
In another report released on May 2, Barclays also maintained a Buy rating on the stock with a $382.00 price target.