Cigna shares likely up 5% or more on deal, says JPMorgan JPMorgan expects shares of Cigna to be up 5% or more after the company announced a deal with Berkshire Hathaway to exit its Variable Annuity Death Benefits and Guaranteed Minimum Income Benefit reinsurance runoff businesses. The firm finds the deal terms favorable for Cigna and says the annoucnement removes an overhang on the stock’s valuation. JPMorgan keeps an Overweight rating on Cigna shares.
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