Avolta AG

AVOL: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 24.00	Dvhrjp	Sblsfwpl

Dufry Recovers Strongly From Pandemic's Peak, Despite Uncertain Macro; Shares Attractive

Jelena Sokolova

Mar 7, 2023

We don' expect to materially change our fair value for narrow moat Dufry as the company reported strong recovery of sales and profits in 2022. Shares remain undervalued, trading at around a 30% discount to our fair value estimate.

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