Lonza Group Ltd

LONN: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 756.00	Hrsfcr	Tlqvddwlk

Positive Outlook for Narrow-Moat Lonza; Maintaining CHF 620 FVE, Shares Undervalued

Rachel Elfman

Nov 28, 2022

Our long-term outlook for Lonza looks bright as drug manufacturing continues to become more complex with biologics and cell and gene therapies playing larger roles. We maintain our fair value estimate of CHF 620 per share for narrow-moat Lonza. We view Lonza’s stock price as undervalued, currently trading 20% below our fair value estimate in 4-star territory.

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