The Swatch Group AG Bearer Shares
UHR: XSWX (CHE)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CHF 732.00 | Qdwbnr | Svzzzlcxl |
Swatch Earnings: Timing Is Right for Swatch As Sales and Earnings Tick Up
We expect to increase our CHF 341 fair value estimate for narrow-moat Swatch Group as the company delivered a strong first-half 2023 improvement in sales and profitability. Swatch is among the cheapest companies in our luxury coverage with price/forward earnings of 14 times and around 30% upside to our fair value estimate, trading in 4-star territory. Swatch also has a number of catalysts for outperformance this year.