Novartis AG Registered Shares

NOVN: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 66.00	Bvbb	Qhmdszfn

Novartis Posts Slightly Weak Third Quarter, but Its Innovation Prospects Look Underappreciated

Damien Conover

Oct 25, 2022

Novartis reported third-quarter results slightly below our projections, but we don’t expect any major changes to our fair value estimate. We continue to view the stock as undervalued, with the market not fully appreciating the growth of marketed drugs and pipeline treatments that also support the firm’s wide moat.

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