Jefferies Raises Price Target on Aetna (AET)

Jefferies Raises Price Target on Aetna (AET)


Jefferies reported on Wednesday that it has raised its price target on insurance provider, Aetna Inc.(AET).

The firm has reaffirmed a “Buy” rating on AET, and had increased the company’s price target from $58 to $61. This price target suggests a 20% increase from the stock’s current price of $48.63.

An analyst from the firm commented, “AET is our favorite Managed Care stock with 27% upside to our $61 price target (up from $58). Pro-forma for the CVH acquisition (close expected mid-2013), AET is the cheapest at 7.5x 2014E EPS. We believe the company’s 2013 guidance is conservative, and that AET will deliver, if not exceed, the $0.45-0.90 EPS accretion guidance in 2014-15. This should enable AET to achieve a LT EPS CAGR in the low-to-mid teens.”

Aetna shares were up 88 cents, or 1.84% during Wednesday morning trading. The stock has increased 6.8% in the past year.

The Bottom Line
Shares of Aetna Inc.(AET) have a 1.63% yield, based on Wednesday morning’s price of $48.98.

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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