Another Strong Set of Results for Pernod, but Growth Remains Priced In
Pernod Ricard posted another solid set of results in the first half of the year that again demonstrates the momentum the business has in Asia and the Americas. We retain conviction in our longer-term estimates as a result of the volume growth and pricing power demonstrated in these results, and we reiterate our narrow moat rating. We are unlikely to raise our EUR 110 fair value estimate beyond the impact of the time value of money. We regard the shares as being modestly overvalued, as we think 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.
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