Defensive balance sheet and competitive advantages provide a solid foundation for long-term growth.
We transfer analyst coverage of ARB Corp and increase our fair value estimate to AUD 12.50 from AUD 12.00 per share. This follows a revision of our long-term earnings estimates, reinvestment requirements, and cost of capital assumptions. Our narrow economic moat and medium uncertainty ratings are unchanged.We project EPS to grow at roughly 8% per year over the next five years, underpinned by mid-single-digit sales growth in the Australian division, which currently generates over 90% of group ea...
ARB is engaged in the design, manufacture, distribution and sale of motor vehicle accessories and light metal engineering works.
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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