Catamaran (CTRX) CIGNA Deal a Major 'Win' - Jefferies

Jefferies analyst Brian Tanquilut reiterated a Buy rating and $65 price target on Catamaran (NASDAQ: CTRX) a 10-year PBM contract with CIGNA, calling the win "much like an "Americas Cup" Victory For CTRX."

"CIGNA's decision to award CTRX a 10-year PBM contract, in our view is the best-case outcome for CTRX. In addition to eliminating a long-standing overhang that has depressed the stock's valuation, the earnings-accretive CIGNA deal should open incremental contracting opportunities for CTRX while enhancing the company's overall purchasing power/margins at the same time. We remain very bullish on CTRX and are maintaining our $65PT."

For an analyst ratings summary and ratings history on Catamaran click here. For more ratings news on Catamaran click here.

Shares of Catamaran closed at $48.66 yesterday.

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