Cigna price target raised to $390 from $379 at Morgan Stanley

Morgan Stanley analyst Erin Wright raised the firm’s price target on Cigna (CI) to $390 from $379 and keeps an Overweight rating on the shares. Following “a clean print,” a majority of questions for management on the call revolved around next steps in Cigna’s GLP-1 strategy in the wake of CVS Health’s (CVS) announcement of a partnership with Novo Nordisk (NVO) and the company “left the door open,” the analyst tells investors. While a similar arrangement was not announced, management pointed to its existing EnCircleRx solution, now serving 9M members, and the launch of two new innovations, ReachRx and EnGuide, the analyst noted. Cigna raised 2025 EPS guidance 10c, reflecting business confidence and “a prudent view at this point in the year,” adds the analyst, who updated the firm’s model following Q1 results and commentary.