Avolta AG

AVOL: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 14.00	Yfvrn	Mcwdgscy

Dufry Demand Continues Strong Recovery as COVID-19 Restriction Released in Americas and EMEA

Jelena Sokolova

Aug 9, 2022

We maintain our fair value estimate for narrow-moat Dufry after the company reported solid recovery in the second quarter. Despite the recent rally, Dufry’s shares remain attractive, trading at around a 35% discount to our fair value estimate.

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