Cigna price target lowered to $365 from $375 at Oppenheimer

Oppenheimer lowered the firm’s price target on Cigna (CI) to $365 from $375 and keeps an Outperform rating on the shares. The firm notes Cigna met Q2 expectations, with most trends in line with forecasts, as the business continues to see balanced growth across each segment. The key recovery on stop-loss appears on track, while the business continues to avoid many of the broader managed care pressures, with no government exposure and a small/shrinking individual presence, Oppenheimer adds.