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Fly News Breaks for May 23, 2016
ANTM, CI
May 23, 2016 | 07:28 EDT
Leerink analyst Ana Gupte believes Anthem (ANTM) deal with Cigna (CI) is at "meaningful risk" as Fortune 500 corporate employer customers remain opposed to the consolidation, and the value creation driven by potential for lower provider pricing is not resonating with key Government stakeholders. Gupte lowered her expectation of deal close to under 50% from 70%. The analyst also lowered her price targets for Anthem and Cigna to $160 and $155 from $195 and $175, respectively, but kept an Outperform rating on both stocks.
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