Murata Manufacturing Co Ltd
6981: XTKS (JPN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥5,249.00 | Tbbb | Hfkphlnz |
Murata Manufacturing: Moat Rating Upgraded to Wide; MLCC Competitive Advantage Expands
We upgrade Murata Manufacturing’s moat rating to wide from narrow, based on the intangible assets and cost advantage of its multilayer ceramic capacitor, or MLCC, business. As a result, we raise our fair value estimate for Murata to JPY 4,000 per share from JPY 3,600, and believe its shares are undervalued.