Salvatore Ferragamo SpA

SFER: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€8.40	Nfzl	Wmcwkgn

Ferragamo's Profitability Exceeds Our Expectations on Stronger Gross Margin; Shares Fairly Valued

Jelena Sokolova

Mar 9, 2022

We expect to increase our fair value estimate for no-moat Salvatore Ferragamo by a mid-single-digit percentage as we factor in faster-than-expected profitability improvement into our models. After recent price declines, Ferragamo trades approximately in line with our fair value estimate.

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