Aetna (AET) is a major provider of health insurance benefits in the United States. It was one of the best-performing stocks on the board all year until the start of Obamacare, and then it and its peers like Cigna (CI) and WellPoint (WLP) went on extended leave. They are all continuing to rally back now, as it looks like the new wrinkles in the Affordable Care Act snafu will benefit the HMOs.
Just as it did on Friday afternoon, the stock made a new all-time high Monday morning before pulling back at the close with the broad market. Not a problem. There’s still upside from here, so buy AET for a $70 target.
Jon Markman operates the investment firm Markman Capital Insights. He also writes a daily trading newsletter, Trader’s Advantage, and CounterPoint Options, a service geared towards helping individual traders make steady, consistent profits with the VIX. Follow Jon Markman at Google+.