Lazard announced on Tuesday that they have initiated coverage of healthcare benefits company, Aetna Inc.(AET).
The firm reported that they are initiating coverage of AET with a “Buy” rating and a price target of $50. This price target suggests a 16.5% increase from the stock’s current price of $41.71.
The firm noted that the company currently has a 14% free cash flow yield.
Aetna shares were mostly flat during premarket trading Tuesday. The stock is down -1.14% YTD.
The Bottom Line
Shares of Aetna (AET) have a 1.68% dividend yield, based on last night’s closing stock price of $41.71. The stock has technical support in the $37-$38 price area. If the shares can firm up, we see overhead resistance around the $44-$45 price levels.
Aetna Inc.(AET) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.