Aristocrat’s FVE Upgraded on Expectations of Stronger Operating Momentum; But Stock Still Expensive
Following Ainsworth Game Technology’s fiscal 2016 result we make upgrades to narrow moat-rated Aristocrat’s earnings forecasts. Ainsworth’s performance in Australia was weaker than expected as the their new A600 cabinet is taking longer to gain traction. This bodes well for the domestic market leader, Aristocrat. Aristocrat’s strong operating momentum from fiscal 2015 has continued into fiscal 2016 with the company reporting a very strong first half. We expect Aristocrat to head into fiscal 2017...Aristocrat Leisure is a provider of gaming solutions. Co. is engaged in the design, development and distribution of gaming content, platforms and systems. Co.'s products and services include electronic gaming machines and casino management systems. Co. also operates within the online social gaming and real money wager markets.
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.
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