All the investment firms and banks that we follow here at 24/7 Wall St. keep a list for their institutional and retail clients of high-conviction stock picks. These are generally the companies they not only like on a longer term basis, but those with stocks that usually have solid upside potential to the assigned target price. With August and the summer almost over, and the weak seasonal time of year right around the corner, many firms on Wall Street have tweaked their lists to account for potential changes the rest of the quarter and 2021.
The analysts at Raymond James who contribute to the firm’s well-respected Analysts Current Favorites list of stocks to Buy have to provide one stock in their coverage space for inclusion in the list. Hence, it is considered the favorite choice.
We have been reminding readers that the stock market has not had a 5% correction in almost a year. So we screened the list looking for stocks that are not overextended or overbought and that are solid ideas in a very pricey stock market. We found five that look like very good ideas for growth investors seeking to reset portfolios to safer sectors. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Cigna
This is a solid value buy in the health care sector. Cigna Corp. (NYSE: CI) is a major health services organization that provides insurance and related products and services in the United States and internationally. All products and services are provided exclusively by or through operating subsidiaries of Cigna, including Cigna Health and Life Insurance Company, Life Insurance Company of North America, Cigna Life Insurance Company of Canada and their affiliates.
The health care giant offers an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits and other related products, including group life, accident and disability insurance. Cigna maintains sales capability in 30 countries and jurisdictions, and it has approximately 86 million customer relationships throughout the world.
Investors receive a 1.95% dividend. The Raymond James price target for the stock is $275, and the Wall Street consensus target is $240.64. Cigna stock closed trading on Wednesday at $205.60.
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