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Wells Fargo has upgraded its price target for Cigna stock to $325, up from $307, while keeping an Equal Weight rating. The current stock price is $296.27, close to its 52-week peak of $318.05, though data shows the shares are still undervalued. The firm cut its 2027 and 2028 earnings per share forecasts to $33.30 and $36.30 from $33.77 and $36.92, respectively.

Fifteen analysts have lowered their earnings estimates for the upcoming period, according to InvestingPro Tips. This adjustment takes into account a $0.60 reduction due to the exit of the health insurance exchange and stranded costs. Despite the lowered estimates, Wells Fargo maintained the higher price target due to a smaller discount applied to future earnings.

Cigna has projected at least 10% EPS growth in 2027, based on a run-rate of roughly $30, which excludes about $200 million in ACA exchange contributions and stranded costs from the revised 2026 guidance.

The company anticipates Evernorth's operating income to grow in the low single digits, pharmacy benefit services to decline single digits, and specialty and care solutions to hover near the low end of 8% to 12%. Adjusted operating income for Cigna Healthcare is expected to grow 6% to 9% from the 2026 results. Formal 2027 guidance will be unveiled with the fourth-quarter 2026 earnings release in early 2027.

Cigna also reported better-than-anticipated results for the third quarter of 2026, with adjusted earnings of $7.98 per share on $73.7 billion in revenue, surpassing expectations of $7.52 per share and $72.65 billion. The company raised its full-year adjusted earnings outlook to at least $30.60 per share. However, concerns over rebate pool contraction and declining commercial coverage of certain medications from Piper Sandler led to a price target reduction to $360 for Cigna.

Bernstein SocGen Group raised its price target to $390, maintaining an Outperform rating, expressing confidence in Cigna’s 2027 growth outlook. This mixed sentiment among analysts highlights the uncertainty surrounding Cigna's future performance.