The Cigna Group

CI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$322.00	Cbnmx	Shplrlqq

Cigna Turns in Strong Q3; Raising Fair Value Estimate on Recent Cash Flows

Julie Utterback

Nov 3, 2022

Narrow-moat Cigna turned in better-than-expected third-quarter operating results that allowed management to boost its 2022 outlook a bit. After incorporating recently generated cash flows (primarily) and mildly stronger recent trends (secondarily), we are raising our fair value estimate in the midsingle digits on a percentage basis. Shares appear about fairly valued, in our opinion.

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