CIGNA (CI) PT Raised to $400 at Cantor Fitzgerald

Cantor Fitzgerald analyst Sarah James raised the price target on CIGNA (NYSE: CI) to $400.00 (from $384.00) while maintaining a Overweight rating.

The analyst comments "We are raising our price target from $384 to $400. This represents a 2025E P/E multiple of 12.2x from our previous 12x applied to our 2025 EPS estimate of $32.47. Target multiple reflects a 14% premium to historical 5Y average P/ E, which reflects increased confidence in Evernorth earnings growth. Risks to our price target include larger-than-expected employer give-backs based on contractual arrangements and low utilization, higher start-up costs from the CNC contract, failure to further penetrate commercial book with Evernorth products, ability to realize investment on VillageMD, and other CI venture investments."

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