Sartorius Stedim Biotech SA
DIM: XPAR (FRA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| €649.00 | Rzjw | Lzwxmwmfp |
Sartorius Earnings: Disappointing, but Still on Track to Meet Full-Year Guidance
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Wide-moat Sartorius and its bioprocessing subsidiary Sartorius Stedim Biotech, or SSB, reported first-quarter earnings that were a modest disappointment to us, with revenue mildly lower than our forecast. However, we continue to see early signs of recovery in the order books, and think that the company is still on track to meet its full-year guidance. We are maintaining our fair value estimates of EUR 295 per Sartorius AG preference share and EUR 240 per SSB share, and we view the current prices as slightly cheap with a slight preference for SSB.