Reckitt Benckiser Group PLC
RKT: XLON (GBR)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
GBX 3,875.00 | Wctx | Qcsblhtv |
Surprise CEO Departure Does Not Impact Our Intrinsic Assessment of Reckitt; Shares Fairly Valued
Although we believe the abrupt departure of CEO Laxman Narasimhan represents a loss for wide-moat Reckitt, we don’t expect to make any changes to our long-term outlook following the announcement, and we reconfirm our standard capital allocation rating and our GBX 6,700 fair value estimate. Despite his departure, we think Narasimhan’s effect on the firm and its strategy will remain.