Centene Corp
CNC: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$13.00 | Shbnpd | Zpqncwsl |
Centene Turns in Strong Q4 and Maintains 2023 Outlook; Shares Moderately Undervalued
Narrow-moat Centene turned in strong fourth-quarter results that allowed the company to exceed our adjusted EPS and cash flow expectations for the full year. Management also maintained its bottom-line expectations for 2023, which remain roughly in line with our estimates. At first glance, we do not anticipate changing our $87 fair value estimate materially. Centene shares appear moderately undervalued to us.