Elevance Health Inc

ELV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$257.00	Rplwjb	Jqsvckdd

Elevance Earnings: Medicaid Weakness Offset on Bottom Line, and 2024 Guidance Remains Solid

Julie Utterback

Jan 24, 2024

Narrow-moat Elevance delivered slightly higher fourth-quarter results and 2024 guidance than we were expecting, despite rising medical utilization trends. However, our long-term forecasts and $520 fair value estimate have not changed materially, and recent trades look close to fair value.

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