Centene Corp

CNC: XNYS (USA)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
$87.00GqhvqWhpbdpfm

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.

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