The Swatch Group AG Bearer Shares
UHR: XSWX (CHE)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CHF 748.00 | Wdzqhgb | Pqqbdxw |
Swatch Profitability Improves Despite Muted Sales Growth on Weakness in China; Shares Attractive
We don’t expect a material change to our CHF 341 fair value estimate for narrow-moat Swatch Group as the company reported full-year sales a little below our expectations, but recorded better-than-expected profitability. Swatch remains one of the few undervalued names in luxury, trading in 4-star territory.