Cigna price target lowered to $375 from $400 at Oppenheimer

Oppenheimer lowered the firm’s price target on Cigna (CI) to $375 from $400 and keeps an Outperform rating on the shares. The firm notes Cigna’s Q4 miss was primarily caused by stop-loss pressures related to high-cost individual claims in 2024, which are expected to continue into 2025. Oppenheimer believes Cigna should overcome the stop-loss hiccup and drive EPS growth toward the top end of its 10%-14% target range in the coming years. With the trough valuations and potential earnings upside, the firm would be a buyer of Cigna.