JPMorgan keeps an Overweight rating on Cigna (CI) after the company announced that CEO David Cordani will retire effective July 1 and will be succeeded by Brian Evanko. JPMorgan did not view Cordani’s retirement as imminent, but believes Cigna “remains in capable hands under Evanko.” Shares of Cigna are down 6% to $274.60 in morning trading.
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Read More on CI:
- Cigna CEO change timing ‘may surprise some investors,’ says Barclays
- Cigna Announces CEO Succession and Leadership Transition Plan
- Cigna says Brian Evanko to Succeed David Cordani as CEO
- Cigna backs FY26 adjusted EPS view ‘at least’ $30.25, consensus $30.32
- Cigna price target lowered to $370 from $374 at Piper Sandler