Jefferies Raises Price Target on Aetna (AET)

Jefferies Raises Price Target on Aetna (AET)


On Thursday, Jefferies reported that it has raised its price target on health benefits company, Aetna Inc (AET).

The firm, which currently has a “Buy” rating on AET, has increased the company’s price target from $69 to $74 as a result of its acquisition of Coventry Health Care. This price target suggests a % upside from the stock’s current price of $60.44.

Analyst David Windly noted, “the company’s diversified business, strong execution, modest exposure to Exchange risk, and low-to-mid teens EPS growth make AET our favorite MCO.”

“At 9.5x 2014E EPS, AET is second cheapest in the group with the most attractive risk/reward profile.”

Looking forward, the firm increased its second quarter earnings estimates from $1.33 per share to $1.40 per share. For FY2013, earnings estimates have been lifted from $5.59 per share to $5.83 per share. FY2014 earnings were increased from $5.89 per share to $6.40 per share.

Aetna shares were mostly flat during Thursday morning trading. The stock is up 31% YTD.

The Bottom Line
Shares of Aetna Inc (AET) have a 1.33% yield, based on Wednesday’s closing price of $60.29.

Aetna Inc (AET) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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