On Friday analysts at JP Morgan upgraded healthcare insurer Aetna Inc. (AET) to “Overweight” as they expect a positive revision of earnings estimates following the closing of the purchase of Coventry Health.
The analysts upgraded AET from “Neutral” to “Overweight” with a price target of $52. The target is a +19.7% upside from Thursday’s closing price of $43.43.
Aetna shares were flat in premarket trading on Friday. The stock is up +3.4% year-to-date.
The Bottom Line
Shares of Aetna (AET) have a 1.84% dividend yield, based on last night’s closing stock price of $43.43. The stock has technical support in the $39-$40 price area. If the shares can firm up, we see overhead resistance around the $46-$47 price levels.
Aetna Inc. (AET) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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