Altium Ltd

ALU: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$44.30	Cksfgl	Yjgncrwwqz

Altium Earnings: In Line With Expectations as Eyes Remain on the Takeover

Roy Van Keulen

Feb 27, 2024

We continue to assume a 100% probability of narrow-moat Altium being acquired by Renesas in the next 6-12 months at the AUD 68.50 per share takeover price. Therefore, our fair value for the company remains at AUD 68.50 per share. Following the company's first-half results, we leave our stand-alone fair value estimate unchanged at AUD 47.50 per share.

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