Diasorin SpA

DIA: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€388.00	Pvrcwk	Psjkgzbfs

DiaSorin Does Not Disappoint in Q3 Despite Dilutive Impact of Luminex; Shares Still Overvalued

Aaron Degagne

Nov 11, 2021

Narrow-moat DiaSorin reported another impressive quarter and exceeded our expectations with 50% sales growth and 17% net income growth. We plan to moderately increase our EUR 112 fair value estimate after accounting for ongoing strong results. Because our model includes a weighted average U.S. corporate tax rate of 26%, we would also anticipate an approximate 2.5% increase to our fair value estimate if corporate tax rate increases are excluded from the Build Back Better Act still under negotiation.

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