GSK PLC ADR

GSK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$67.00	Ysbth	Lkwnbrxw

GSK Earnings: Solid Growth Led by New RSV Vaccine Arexvy

Damien Conover

Nov 1, 2023

GSK reported strong third-quarter results slightly ahead of our expectations, largely driven by excellent sales of RSV vaccine Arexvy. We are holding firm to GSK’s fair value estimate and continue to view the stock as undervalued with the market likely missing the firm’s growth potential, partially driven by new products like Arexvy. The new product launches and strong vaccine entrenchment also reinforce the firm’s wide moat.

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