ASX Ltd

ASX: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$41.00	Hwqw	Ygff

ASX: Investor Day Shows New Management Commitment To Retain Social License and Protect Moat

Roy Van Keulen

Jun 7, 2023

We retain our fair value estimate for wide-moat ASX at AUD 75 per share following its investor day. ASX’s share price fell 10% on the prospects of increased operating expenses and capital expenditure. We view this reaction as incorrect and now consider shares in ASX to be materially undervalued.

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