Given Elevance Health's strong Q2 earnings, beating estimates with significant EPS growth, and the undervaluation noted by Morgan Stanley, I believe ELV offers a compelling investment opportunity for continued growth in its diversified segments and resilient operating model.

With Elevance Health's strong Q2 earnings beating estimates, improved revenues from CarelonRx, and higher net investment income, I believe ELV is undervalued and poised for long-term growth. Its diversified offerings provide resilience against macroeconomic cycles and regulatory challenges.