Wells Fargo lowered the firm’s price target on Cigna (CI) to $300 from $354 and keeps an Equal Weight rating on the shares. The firm’s 2026 / 2027 / 2028 EPS estimates also decrease 10% / 13% / 14% following PBM pressures in 2026. While Wells is sympathetic to arguments that PBM earnings may be overly discounted, low visibility and lack of catalysts keeps the firm on the sidelines.
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