We've Updated Our Arconic Forecasts in Light of Investor Day Guidance; Fair Value Estimate Lowered
We've updated our Arconic valuation model to reflect updated information provided during the company's recent investor day. Although our near-term profit forecasts are effectively unchanged, we've slightly lowered our long-term free cash flow and adjusted EBITDA forecasts to better align with management's guidance. Accordingly, we've reduced our fair value estimate for Arconic to $21 per share from $22. Our no-moat rating is unchanged.The company's 2019 guidance was of particular interest, as t...
Arconic is engaged in lightweight metals engineering and manufacturing. The company's segments include: Engineered Products and Solutions, which produces products that are used mainly in the aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets; Global Rolled Products, which produces aluminum sheet and plate for a variety of end markets, and also produces aseptic foil for the packaging end market; and Transportation and Construction Solutions, which produces products that are used in the commercial transportation and nonresidential building and construction end markets, and also produces aluminum products for the industrial products end market.
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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