Sonova Holding AG

SOON: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 688.00	Cncsnn	Tprsbgytf

Sonova Guides to a Strong Recovery in Fiscal 2021-22 After Second Half Sees Growth

Alex Morozov

May 18, 2021

We anticipate a modest increase to our fair value estimate for narrow-moat Sonova as we update our model following the release of fiscal 2020-21 results. Hearing industry is starting to slowly recover as older at-risk individuals, which comprise a sizable portion of the industry’s client base, get vaccinated. All Sonova’ segments saw growth in local currencies year over year in the second half.

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