Bernstein Bullish on The Cigna Group (CI) Amid Leadership Change and Improved Backdrop

The Cigna Group (NYSE:CI) is among our picks in the list titled billionaire portfolio: 7 cheap stocks top billionaires are accumulating.

As of March 27, 2026, The Cigna Group (NYSE:CI) enjoys the confidence of roughly 90% of covering analysts who maintain bullish ratings on the stock. Based on the analyst consensus, the stock boasts an approximately 30% upside potential.

Similar optimism echoed at Bernstein, where analysts expect the stock’s valuation multiple to expand. Analyst confidence stems from drivers such as the PBM reform bill, the FTC settlement, The Cigna Group (NYSE:CI)’s previously announced PBM model changes, and its guidance tied to those changes.

With this investment thesis, Bernstein boosted its 2027-2030 EPS estimates, upgrading The Cigna Group (NYSE:CI) from “Market Perform” to “Outperform.” As of March 12, 2026, the firm maintains a $358 price target. For the current year, it kept its EPS estimates unchanged.

Recently, The Cigna Group (NYSE:CI) announced a leadership change, under which CEO David Cordani will retire, and Brian Evanko will succeed him. While the succession was inevitable, the timing of the move was criticized by Barclays analysts earlier this month, who cited the company’s early stage in its multi-year PBM transformation.

Around the same time, Piper Sandler’s analysts remained in favor of the PBM model changes, seeing less risky business dynamics following the change. Analysts further added that the company’s rebate-free pharmacy benefits model aligns with the 2025 Consolidated Appropriations Act and the FTC settlement. The firm cut its price target on The Cigna Group (NYSE:CI) from $374 to $370 and reiterated an “Overweight” rating.

The Cigna Group (NYSE:CI) operates as a global health services provider that offers pharmacy benefit management, specialty pharmacy, care delivery, and medical insurance solutions through its Evernorth Health Services and Cigna Healthcare segments worldwide.

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