Federated Hermes Inc Class B

FHI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$26.00	Lhdlc	Dvtqzxddx

Federated Hermes Earnings: Better Near-Term Results Distract From a More Difficult Future

Greggory Warren

Oct 27, 2023

While there was little in no-moat-rated Federated Hermes third-quarter results that would alter our long-term view of the firm, we expect to lower our $38 per share fair value estimate 5%-10% to account for the impact that continued equity and credit market headwinds will have on results in both the near and long term.

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