The Cigna Group (NYSE:CI) is closely watched by Wall Street analysts. Analyst Lance Wilkes at Bernstein lowered the price target from $346 to $294, maintaining a ‘Market Perform’ rating. The company’s new pharmacy benefit manager model is seen as more sustainable, but no valuation rerating is expected yet after third-quarter earnings release.

In the third quarter, The Cigna Group (NYSE:CI) reported revenue of $69.7 billion, a 10% increase from the same period last year, with adjusted earnings of $7.83 per share. CEO David Cordani highlighted the company’s ability to drive growth and innovation while maintaining lower costs through competitive drug pricing.

Several analysts adjusted their outlook on The Cigna Group (NYSE:CI) in early November. TD Cowen lowered the price target to $333 from $387 but kept a ‘Buy’ rating. JPMorgan maintained an ‘Overweight’ rating and revised the price target to $375 from $428. The company operates through Evernorth Health Services and Cigna Healthcare segments.

The Cigna Group (NYSE:CI) is a Connecticut-based insurance provider founded in 1792. While CI has investment potential, some believe AI stocks offer greater upside with less risk. For those seeking undervalued AI opportunities, a free report on the best short-term AI stock is available. No promotional services are mentioned in the news article.

Read more at Yahoo Finance: The Cigna Group (CI) Stock Outlook Revised, Here’s What Analysts Say