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Cigna ‘Top Pick for 2024’: Analysts Change Ratings, Forecasts Following 2024 Guidance

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Cigna Group (NYSE: CI) shares were rising in early trading on Monday after the company reported its fourth-quarter results.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.

Cantor Fitzgerald On Cigna

Analyst Sarah James upgraded the rating from Neutral to Overweight, while raising the price target from $334 to $372.

Cigna’s 2024 guidance implies Evernorth revenues in the range of $193 billion, which is $10 billion higher than the consensus estimates, James said in a note.

“Based on our discussions with management, we believe the CNC contract will start in full 1/1, with the $30B in revenue divided ratably through the year, in contrast to the more back-end-loaded ramp we see in consensus,” the analyst wrote. Evernorth could generate a step-up in earnings between $600 million and $1.05 billion from the CNC …

Full story available on Benzinga.com

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