Davide Campari-Milano NV Az nom Post Frazionamento

CPR: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€1.00	Lld	Pfvrhmrw

Narrow-Moat Campari Pours Spirited Q3 Results; Shares Significantly Overvalued

Erin Lash

Oct 26, 2021

We don’t plan a material change to our EUR 9.30 fair value estimate for narrow-moat Campari Group, outside of a small adjustment for time value, after its third-quarter earnings report. Results for the September-ending quarter tracked our full-year estimates for revenue and slightly outpaced our forecast for operating margin.

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