Credit Suisse analyst A.J. Rice reiterates an Outperform rating on Cigna with a $250 price target after updating his model following the close of the Express Scripts acquisition. The analyst sees the combined company earning $16.45 in earnings per share in 2019. He also raised his 2020 estimate to $18.50 from $17.00 and sees 2021 earnings per share of $20.80. Cigna shares trade at less than 10 times the pro-forma 2020 earnings estimate, an almost three times discount to the group multiple of roughly 12.8 times, Rice tells investors in a research note. He views Cigna shares as attractively valued at current levels.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.