Analyst Phillip Seligman of S&P Capital IQ reiterates his BUY rating on the shares of Cigna (NYSE: CI). The target price is set to $54.

In a research note published this morning, the analyst mentions that the company has reported Q1 adjusted EPS of $1.24, vs. $1.31, $0.12 below the estimate, partly on lower group disability & life income and higher than expected healthcare operating costs. Cigna has gained 787,000 more members so far this year, reflecting market share gains, the analyst says. The acquisition of HealthSpring makes Cigna a leading market player with good growth prospects, the analyst adds. S&P Capital IQ is positive about the company’s overseas gains, client retention and cost control initiatives, the analyst adds.

Resource Link: S&P Capital IQ Reiterates BUY Rating Cigna (NYSE: CI)