AptarGroup Inc

ATR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$612.00	Cgsjsq	Flpzkbry

Aptar Earnings: Continuous Top-line Growth Highlights Solid Proprietary Pharma Dispense Offerings

Damien Conover ,

Oct 26, 2023

Narrow-moat Aptar's third-quarter performance continued the high note we have seen throughout 2023. We are maintaining our $132 fair value estimate following a strong quarter that reaffirmed our opinion on the intangible asset and switching costs that Aptar's pharma business enjoys. Adjusted EBITDA increased over 26% year over year, supported by cost savings efforts and operating leverage. Shares are currently undervalued, in our view.

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