Sonova Holding AG

SOON: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 295.00	Nfgkpwb	Swtsjmg

Sonova's September Shows Modest Recovery But Uncertainty Remains

Alex Morozov

Nov 16, 2020

We are updating our model for narrow-moat Sonova and anticipate to moderately raise our fair value estimate in response to quicker-than-anticipated recovery in the global hearing market, with Sonova reaching high-single-digit revenue growth for the month of September year over year. Even with the expected fair value estimate increase, we view shares as overvalued.

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