Federated Hermes Inc Class B

FHI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$98.00	Nlxw	Bvyfsdbb

Federated Hermes: Raising Fair Value 14% on Higher Rates and Money Market Fund Flows

Greggory Warren

Apr 10, 2023

We've increased our fair value estimate for no-moat-rated Federated Hermes to $40 per share from $35 after updating our valuation model to include higher income streams from the company's money market operations in the near term.

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