Report
Jay Lee
EUR 100.00 For Business Accounts Only

Chugai's 2018 Earnings Strong as Expected; Raising FVE to JPY 6,000 on Change in WACC

Chugai Pharmaceutical announced 2018 earnings that were in line with our expectations. We are transferring coverage to a new analyst and raising our fair value estimate to JPY 6,000 per share from 4,820. This is primarily due to an update to Morningstar’s cost of equity assumption for Japanese stocks. We maintain our narrow moat and stable moat trend ratings.
The earnings metrics were broadly in line with our expectations. Revenue growth was 8.5% versus our estimate of 7.6%, primarily due to hig...
Underlying
Chugai Pharmaceutical Co. Ltd.

Chugai Pharmaceutical is a pharmaceutical company. Along with its subsidiaries, Co. is engaged in the research and development of new prescription medicines and the subsequent manufacturing, marketing and distribution activities. Co. sells its pharmaceutical products to the nationwide appointed stores in Japan, as well as in overseas, such as Germany, the U.K., France, Taiwan, China, South Korea and the U.S. Co., through its subsidiaries, is also involved in the management of research facilities, and the research on drug discovery, as well as the provision of literature research services for pharmaceutical information, and pharmaceutical academic information.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jay Lee

Other Reports on these Companies
Other Reports from Morningstar

ResearchPool Subscriptions

Get the most out of your insights

Get in touch