Cigna Group (CI) is a "clear standout" in the volatile health-care insurance industry, thanks in part to a "diversified and stable earnings flow," Oppenheimer said Friday in a report.

"The company's service-based platform leaves minimal exposure to risk-products that are igniting volatility across the managed care space," Oppenheimer said.

Cigna's Evernorth division has been capitalizing on surging demand for GLP-1 medications to treat Type 2 diabetes and obesity, starting programs that cap out-of-pocket costs and streamline access, the report said.

Cigna "remains one of the most attractive stocks to own" with "an attractive portfolio that should yield solid growth," the report said.

Oppenheimer reiterated its outperform rating on Cigna stock and price target of $375.

Price: 314.71, Change: +0.31, Percent Change: +0.10