Deutsche Bank and Barclays both downgraded Cigna in mid-May, worried about uncertainty in the pharmacy business and membership losses. The stock dropped from around $300 down to $274 in a couple weeks. Earnings were actually fine last quarter, but the market does not seem to care about the past when the future looks foggy. Some analysts still love it with high targets, so nobody agrees on anything. Hard to know if this is a buying opportunity or a warning sign.
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