Reinitiating Coverage of Zoomlion With a FVE of HKD 3 and No-Moat, Stable Moat Trend Ratings
Zoomlion’s strong third-quarter 2018 was in line with our expectations. Net profit nearly tripled to CNY 439 million from CNY 151 million during the same period last year on the back of a 24.6% year-over-year increase on revenue. The increase in revenue is driven by robust demand for its machinery products, especially its concrete, crane, and other construction machinery that is underpinned by strong end demand from the infrastructure industry, replacement cycle, increase in mechanization trend,...
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.
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