Guggenheim trims Cigna price target, calls magnitude of weakness ‘unjustified’

Guggenheim analyst Jason Cassorla lowered the firm’s price target on Cigna (CI) to $350 from $388 and keeps a Buy rating on the shares. Shares are down more than 12% since the Q2 earnings report, despite an inline quarter and reiteration of 2025 guidance, notes the analyst, who says pressures are “oriented to what we describe as nitpicking nuances.” While stating that the firm is cognizant of the sentiment pressures around MCOs broadly, which it reflects in its new target multiple below historical averages, it argues that the magnitude of the move in Cigna is “unjustified.”