SunTrust analyst David MacDonald raised his price target on Cigna (CI) and kept his Buy rating to reflect the benefits of its combination with Express Scripts (ESRX). The analyst cites the "virtues of the deal" coming from the "combined pharmacy/medical, clinical horsepower, and attractive synergies", adding that he sees the benefits of the combination as "underappreciated" by the market. MacDonald expects the Cigna-Express Scripts entity to have a "big 2019 and beyond", adding the their "robust" expected free cash flows will allow them some "financial flexibility". The analyst also sees Cigna's 13-times expected FY19 earnings multiple as "compelling".