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ESRX

Express Scripts

$77.68

0.845 (1.10%)

11:50
08/07/18
08/07
11:50
08/07/18
11:50

Bullish ratio spread opened in Express Scripts

Bullish ratio spread opened in Express Scripts. With shares up 13c to $76.96 Tuesday morning, 2.5K Aug 31st 80 - 84, 1X3, call spreads trade at even money. One 80-strike call bought for every three 84s sold and the position targets a 9.2% move to $84 through month end. Mid-June 52-week high is $82.24 and the stock came under fire last week after Carl Icahn drafted a letter voicing opposition to Cigna's (CI) acquisition of ESRX. The company hosts an Annual General Meeting one week before the 8/31 contracts expire, on 8/24.

  • 24

    Aug

ESRX Express Scripts
$77.68

0.845 (1.10%)

08/07/18
LEHM
08/07/18
NO CHANGE
LEHM
Overweight
Cigna shares have upside with deal or no deal, says Barclays
Barclays analyst Steve Valiquette sees upside in shares of Cigna (CI) no matter the outcome of the shareholder vote on August 24 relating to its proposed acquisition of Express Scripts (ESRX). Under a deal break scenario, Cigna should trade at a multiple relatively in-line to diversified peer Anthem (ANTM), implying a fair value of $215, Valiquette tells investors in a research note. If the deal is approved, the analyst sees Cigna shares falling to $180 in the near term. However, his sum-of-the-parts analysis yields a current fair value of $213 per share. As such, the analyst sees upside potential on Cigna in both merger vote scenarios. Valiquette keeps an Overweight rating on the shares.
08/03/18
RHCO
08/03/18
NO CHANGE
Target $244
RHCO
Buy
Cigna price target raised to $244 from $220 at SunTrust
SunTrust analyst David MacDonald raised his price target on Cigna (CI) to $244 and kept his Buy rating after its "strong" Q2 results showed a "sizable" earnings beat across its business lines and lower expected medical cost trends. The analyst also maintains his bullish view on the pending Express Scripts (ESRX) deal, stating that the potential benefits of the combination are underappreciated give the strong momentum of the latter heading into 2019. MacDonald contends that investors' merger related concerns are "misplaced" and also sees Cigna valuation as "compelling".
08/02/18
JPMS
08/02/18
NO CHANGE
JPMS
Overweight
Cigna holders unlikely to vote down Express Scripts deal, says JPMorgan
While Cigna (CI) shares have underperformed peers since the deal for Express Scripts (ESRX) was announced in March, shareholders are unlikely to vote down the transaction, JPMorgan analyst Gary Taylor tells investors in a research note after the Wall Street Journal reported that Carl Icahn has built a stake and will push for voting against the deal. The analyst admits the market is taking a more negative view, as Express Scripts' 16% spread to offer value widened to 25% yesterday. Taylor believes few shareholders have questioned the strategic rational of the merger. He believes, however, that some of Icahn's points could resonate with bears in the near-term. The analyst keeps an Overweight rating on Cigna.
08/02/18
SBSH
08/02/18
NO CHANGE
SBSH
Vote against Express Scripts deal 'somewhat shortsighted,' says Citi
Citi analyst Ralph Giacobbe believes a vote against Cigna's (CI) proposed acquisition of Express Scripts (ESRX), which the Wall Street Journal reported that activist Carl Icahn will push for, could prove "somewhat shortsighted given the changing and evolving healthcare landscape and the integrated offering and cash flow that a combined entity would generate to compete more effectively." The analyst says that regardless of the outcome, he remains positive on Cigna shares. The company's model should continue to drive growth without Express Scripts, and potentially enhance growth with the deal, Giacobbe tells investors in a research note. He keeps a Buy rating on Cigna.

TODAY'S FREE FLY STORIES

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TCDA

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  • 11

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0.16 (1.49%)

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Morphic Holdings

$0.00

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WBA

Walgreens Boots Alliance

$52.40

-0.59 (-1.11%)

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$150.58

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Patterson Companies

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  • 27

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ADPT

Adaptive Biotechnologies

$0.00

(0.00%)

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  • 26

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BBIO

BridgeBio

$0.00

(0.00%)

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  • 26

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CHNG

Change Healthcare

$0.00

(0.00%)

20:14
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  • 26

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INXN

Interxion

$73.09

-1.97 (-2.62%)

20:11
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  • 27

    Jun

LECO

Lincoln Electric

$80.24

0.1 (0.12%)

20:09
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CMCSA

Comcast

$42.11

-0.64 (-1.50%)

, CMCSK

Comcast

$0.00

(0.00%)

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$42.11

-0.64 (-1.50%)

CMCSK

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$0.00

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  • 25

    Jul

MLHR

Herman Miller

$37.86

0.75 (2.02%)

, KBH

KB Home

$23.58

-0.24 (-1.01%)

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$37.86

0.75 (2.02%)

KBH

KB Home

$23.58

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PECK

Peck

$6.50

0.18 (2.85%)

VRCA

Verrica Pharmaceuticals

$9.44

-0.1 (-1.05%)

PIR

Pier 1 Imports

$8.80

0.14 (1.62%)

RAD

Rite Aid

$7.11

0.26 (3.80%)

ACRS

Aclaris Therapeutics

$4.45

0.06 (1.37%)

BA

Boeing

$375.05

5.68 (1.54%)

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  • 26

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OXY

Occidental Petroleum

$50.42

1.05 (2.13%)

, APC

Anadarko

$70.50

0.41 (0.58%)

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OXY

Occidental Petroleum

$50.42

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APC

Anadarko

$70.50

0.41 (0.58%)

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  • 27

    Aug

PIR

Pier 1 Imports

$8.80

0.14 (1.62%)

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  • 26

    Jun

FB

Facebook

$187.60

-1.27 (-0.67%)

, AMZN

Amazon.com

$1,897.51

18.25 (0.97%)

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$187.60

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AMZN

Amazon.com

$1,897.51

18.25 (0.97%)

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  • 26

    Jun

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NOMD

Nomad Foods

$20.34

-0.24 (-1.17%)

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ISTR

Investar Holding

$23.35

0.23 (0.99%)

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ISTR

Investar Holding

$23.35

0.23 (0.99%)

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GD

General Dynamics

$178.77

1.12 (0.63%)

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TM

Toyota

$123.23

-0.68 (-0.55%)

, SFTBF

SoftBank

$0.00

(0.00%)

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TM

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$123.23

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SoftBank

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Mazda

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ISUZY

Isuzu Motors

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UAL

United Continental

$85.32

0.27 (0.32%)

, BA

Boeing

$375.05

5.68 (1.54%)

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Boeing

$375.05

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  • 09

    Jul

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NOMD

Nomad Foods

$20.34

-0.24 (-1.17%)

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AMC

AMC Entertainment

$9.45

-0.03 (-0.32%)

, HMNY

Helios and Matheson

$0.00

(0.00%)

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$9.45

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HMNY

Helios and Matheson

$0.00

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SECCF

Serco Group

$0.00

(0.00%)

, BAESY

BAE Systems

$0.00

(0.00%)

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