Few Surprises in British American Tobacco's 4Q as Shares Remain Materially Undervalued
There were few surprises in British American Tobacco's preliminary results for 2018, given that the company had released a preclose trading update in December. BAT was in line with our forecast for EPS but missed on the top line. We are retaining our medium-term estimates and our GBP 45 fair value estimate for the ordinary shares. We think there is significant upside to BAT and the tobacco group more broadly, but we recognize that a number of exogenous risks must pass in order for sentiment to i...
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.