AptarGroup Inc

ATR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$144.00	Pvjbdx	Cllnkbchr

Aptar Earnings: Strength in Pharma Business Supports Solid Results

Damien Conover

Jul 28, 2023

Narrow-moat Aptar reported solid second-quarter results, continuing the positive trend in the previous quarter. The company sees a strong pipeline as over 85 medical products using Aptar’s proprietary delivery technology were launched in the first half of 2023. We are encouraged by Aptar’s presence among small to midsize pharma companies, highlighting the significant switching costs Aptar’s pharma business has developed. Therefore, we maintain our $132 fair value estimate for the company. Shares are currently trading undervalued.

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