Cigna price target lowered to $341 from $370 at Wells Fargo

Wells Fargo analyst Stephen Baxter lowered the firm’s price target on Cigna (CI) to $341 from $370 and keeps an Equal Weight rating on the shares. The firm notes Stop Loss pressure was digested quickly, with shares underperforming only modestly since reporting Q4. In Wells’ view, this leaves risk/reward generally balanced in light of weak Q4 fundamentals and ongoing PBM uncertainty.