Increasing Altaba FVE to $79 per higher FVEs of Alibaba and Yahoo Japan; Shares Fairly Valued
We are increasing our fair value estimate of Altaba as the firm’s two main holdings, Alibaba and Yahoo Japan, posted solid June quarter results, which support Morningstar’s wide- and narrow-moat ratings for the two companies, respectively. Morningstar’s now higher fair value estimates for Alibaba and Yahoo Japan, have pushed our valuation of Altaba to $79 per share, from $68. No-moat Altaba shares remain fairly valued and continue to trade in 3-star territory.Our higher valuation of Altaba is ...
Altaba is a publicly traded, non-diversified, closed-end management investment company. The company's investment objective is to seek to increase the price per share at which it trades relative to then-existing values of its principal underlying assets (the Alibaba Group Holding Limited (Alibaba) ordinary shares and American Depositary Shares and Yahoo Japan Corporation (Yahoo Japan) shares of common stock). In addition to the Alibaba shares and Yahoo Japan shares, the company also owns investments in certain additional companies Excalibur IP, LLC, which owns a portfolio of patent assets and short-term investments.
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.
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