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After receiving 'overweight' rating Anthem shares drop 2%: 3 thoughts

J.P. Morgan analysts downgraded Anthem from "neutral" to "overweight" causing a 2 percent drop in the insurers stock price, TheStreet reports.

Here's what you should know.

1. JP Morgan's analysts were concerned over the insurer's exposure to "fleeting demand" on the individual insurance exchanges.

2. The analysts also cut Anthem's target price from $154 to $132 because of a "slim chance" of getting approval for its attempted merger with Cigna.

3. Over the last three months, Anthem shares have dropped 12 percent.

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