Sanofi SA

SAN: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€437.00	Rkj	Qzdhylnc

Sanofi Earnings: Solid Results, Led by Well-Positioned Dupixent and Strong Beyfortus Launch

Damien Conover

Feb 1, 2024

Sanofi reported solid fourth-quarter 2023 earnings slightly ahead of our expectations, but we aren't making any fair value estimate changes based on the minor outperformance. We still view the stock as undervalued with the market unlikely to be fully appreciating the firm’s strong position in immunology, which also gives us confidence in its wide moat.

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