Centene Corp
CNC: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$13.00 | Cfvxcpt | Tqrwfmlh |
Centene Earnings: 2024 Outlook Rises, as Individual Plan Strength Helps Offset Medicaid Pullback
Narrow-moat Centene exceeded expectations in the first quarter, including strength in its relatively high-margin individual plans, and the company raised its guidance for the full year. However, our bottom-line expectations were already in line with management's new outlook, and after making mild tweaks to our near-term assumptions, our $92 fair value estimate has not changed materially. Centene shares remain moderately undervalued.