AptarGroup Inc
ATR: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$857.00 | Fcyjwz | Gdjhxvyg |
Aptar Earnings: Continuous Top-line Growth Highlights Solid Proprietary Pharma Dispense Offerings
Narrow-moat Aptar's third-quarter performance continued the high note we have seen throughout 2023. We are maintaining our $132 fair value estimate following a strong quarter that reaffirmed our opinion on the intangible asset and switching costs that Aptar's pharma business enjoys. Adjusted EBITDA increased over 26% year over year, supported by cost savings efforts and operating leverage. Shares are currently undervalued, in our view.