Melexis NV

MELE: XBRU (BEL)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€221.00	Rcwcsw	Snlwgkbkl

Melexis Shares Offer Attractive 40% Upside; Decreasing Our Fair Value Estimate to EUR 100

Javier Correonero

Nov 2, 2023

We believe narrow-moat Melexis shares offer an attractive buying opportunity at this point. Although we are decreasing our fair value estimate to EUR 100 from EUR 105 after adjusting our medium-term forecasts, shares offer 40% upside for long-term investors who are willing to endure a few quarters of uncertainty. Melexis is trading at 13.0 times the 2022 EBIT and 11.3 times the last 12 months' EBIT.

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