The Cigna Group (NYSE:CI) is among the stocks Wall Street analysts are watching closely. On November 12, Lance Wilkes, an analyst at Bernstein, trimmed the price target on The Cigna Group (NYSE:CI) to $294 from $346, while maintaining a ‘Market Perform’ rating on the stock. The firm believes the company’s new pharmacy benefit manager (PBM) model is “more sustainable,” but stated it was “not expecting valuation rerating yet” as the company’s third-quarter earnings report was released.
In the third quarter, The Cigna Group (NYSE:CI) delivered revenue of $69.7 billion, representing a 10% increase from the third quarter of 2024, and adjusted earnings of $7.83 per share, compared to $7.51 per share in the same quarter last year. What’s even more interesting is that the company delivered these results while continuing to invest in driving growth and innovation, management highlighted.
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As stated by the CEO, David Cordani,
“And pharmacy benefit managers and the industry as a whole have played a key role in contributing to these lower costs by leveraging a competitive environment for clinically equivalent drugs.”
In early November, several analysts adjusted their outlook on The Cigna Group (NYSE:CI). On November 4, an analyst at TD Cowen reduced the price target on CI to $333 from $387, but reaffirmed the ‘Buy’ rating on the stock. On that same day, JPMorgan reiterated an ‘Overweight’ rating as it revised the price target to $375 from $428.
The Cigna Group (NYSE:CI) is a Connecticut-based provider of insurance and related products and services through its subsidiaries. Founded in 1792, the company operates through Evernorth Health Services and Cigna Healthcare segments.
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