Piper Sandler initiated coverage of Cigna with an Overweight rating and $400 price target. Cigna is a diversified managed care and healthcare delivery organization, specializing in commercial insurance markets and pharmacy services, the analyst tells investors in a research note. The firm believes the company has a “unique and defensible leadership position in the fast-growing specialty pharmacy market” which should support long-term adjusted annual earnings growth at a 10%-14% rate.
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