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ANTM

Anthem

$143.24

-1.5 (-1.04%)

, CI

Cigna

$136.77

-1.9 (-1.37%)

18:51
11/28/16
11/28
18:51
11/28/16
18:51

New Anthem-Cigna testimony shows tension over integration, exec roles, WSJ says

Unsealed testimony from the DOJ's antitrust case against the Anthem (ANTM)-Cigna (CI) merger reveal the two insurers "have significant disagreements," reports the Wall Street Journal. The report explains that the judge presiding over the case initially closed some court sessions per requests from Anthem and Cigna, but ordered transcripts of that testimony unsealed Monday following objections from media groups. According to those transcripts, Anthem CEO Joe Swedish said it established a "confidential" merger integration team without the knowledge of Cigna after the company stopped participating in some integration efforts on advice from its lawyers. According to the Journal, the transcript also shows "significant tensions" about Cigna CEO David Cordani's responsibilities in the combined company, with Swedish commenting that he wasn't sure whether Cordani would remain at the company. The Journal notes that Swedish downplayed the apparent strain between the two companies: "I want to underscore all this stuff about conflict or whatever you want to call it -- to me, it's noise that doesn't relate to the state of readiness we now have and our ability to move forward." Reference Link

ANTM

Anthem

$143.24

-1.5 (-1.04%)

CI

Cigna

$136.77

-1.9 (-1.37%)

  • 29

    Nov

ANTM Anthem
$143.24

-1.5 (-1.04%)

11/04/16
DBAB
11/04/16
UPGRADE
Target $70
DBAB
Hold
Express Scripts upgraded to Hold from Sell at Deutsche Bank
Deutsche Bank analyst George Hill last night upgraded Express Scripts (ESRX) to Hold and raised his price target for the shares to $70 from $69. The analyst says he's "increasing confident" that Express "will serve and monetize" the Anthem (ANTM) contract through 2019. The two companies may even 'find their way to a resolution," Hill tells investors in a research note following the company's earnings conference cal. He believes 2017 consensus estimates for Express are likely too low.
11/09/16
BERN
11/09/16
NO CHANGE
BERN
Health insurers to see multiple catalysts from Trump presidency, says Bernstein
Bernstein analyst Lance Wilkes says that "repealing and replacing Obamacare will be Trump's primary focus." The analyst expects health insurers to benefit from from the repeal of ACA taxes and the elimination of requirements to spend a certain percentage of revenue on medical costs. Wilkes expects Anthem (ANTM) and Blue Cross/Blue Shield providers to benefit from the elimination of public exchanges and broad coverage requirements. Other health insurers include Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).
11/15/16
WELS
11/15/16
UPGRADE
WELS
Outperform
Anthem upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Peter Costa upgraded Anthem to Outperform saying the "replace" options from the Republicans to the Affordable Care Act are likely to drive higher margins. Further, the analyst expects Anthem to benefit from lower corporate taxes under President-elect Trump. Costa raised his price target range for the shares to $172-$185 from $132-$144.
11/22/16
WOLF
11/22/16
UPGRADE
Target $173
WOLF
Outperform
Anthem upgraded to Outperform from Peer Perform at Wolfe Research
Wolfe upgraded Anthem to Outperform and raised its price target to $173 from $165 saying Medicaid/Individual pressures should be offset by potential accretion from Express Scripts.
CI Cigna
$136.77

-1.9 (-1.37%)

08/25/16
COWN
08/25/16
NO CHANGE
COWN
Managed Care mergers unlikely to close, says Cowen
Cowen analyst Christine Arnold believes the current managed care mergers including Aetna (AET) and Humana (HUM) and Anthem (ANTM) and Cigna (CI) are unlikely to close. The analyst said the government's ability to appeal could extend the litigation process beyond the termination dates stipulated in the merger agreements. Arnold believes the Aetna/Humana merger has a better chance of closing relative to the Anthem/Cigna deal, but believes neither are likely to close.
09/22/16
EVER
09/22/16
INITIATION
Target $134
EVER
Hold
Cigna initiated with a Hold at Evercore ISI
Evercore ISI initiated Cigna with a Hold and a $134 price target.
10/17/16
JPMS
10/17/16
DOWNGRADE
Target $132
JPMS
Neutral
Anthem downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Gary Taylor downgraded Anthem (ANTM) to Neutral citing concerns over the company's individual insurance exchange exposure into 2017. Anthem's insurance exchange enrollment is poised to expand materially as other plans exit, Taylor tells investors in a research note. The analyst also assigns a less than 10% chance that the company's pending acquisition of Cigna (CI) gets approved. He lowered his price target for Anthem shares to $132 from $154.

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