Brazil Loses Steam but Other Latin America Markets Compensate for Ambev; Shares Fairly Valued
Ambev reported a decent quarter, with weakness in Brazil offset by upside in other regions. Earnings missed our expectations by a whisker, but we see several places for optimism, and we reiterate our wide moat rating, our BRL 19 fair value estimate for the ordinary shares, and our cash flow forecasts. There is clear evidence in this report that our long-term thesis is intact, but at current levels, we think the premiumisation opportunity is priced in.Ambev could not maintain the momentum from t...
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.