Rational AG
RAA: XETR (DEU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€843.00 | Dhgsh | Jgbttgbw |
Supply Chain Shortages Restrict Rational’s Recovery; Shares Are Richly Valued
Shortages for electrical components used in narrow-moat Rational’s multi-functional cooking appliances restricted its recovery in the fourth quarter of 2021. Full-year revenue grew 20% based on preliminary results, directly in line with expectations. We reiterate our EUR 540 fair value estimate. Shares are richly valued and currently incorporate our bull-case scenario.