Cigna resumed with an Overweight at Morgan Stanley. Morgan Stanley analyst Zack Sopcak resumed coverage of Cigna with an Overweight rating and $304 price target, stating that he views the Express Scripts deal as less of a vertical integration play and more of a “basic building block for future transformative growth.” The risks to Express Scripts execution are more headline than operational, contends Sopcak, who projects Cigna earnings above $21 in 2021, which he notes is above management’s stated target.
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