Humana Inc

HUM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$326.00	Rzhsn	Nsxmwwzq

Humana Turns in Strong Fourth Quarter and Maintains Outlook; Raising Fair Value Estimate

Julie Utterback

Feb 1, 2023

Narrow-moat Humana turned in strong fourth-quarter results that allowed it to mildly outperform our expectations for the year. Humana also maintained its 2023 and longer-term guidance. With those solid trends as a backdrop, we are raising our fair value estimate to $550 per share from $510 primarily for cash flows generated since our last valuation update.

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