Asaleo Care's well-known brands in personal care and its strong cash flow make it a defensive play.
We transfer analyst coverage of Asaleo Care, and reduce our fair value estimate by 19% to AUD 1.30 per share, after trimming our long-term revenue growth and margin projections. The downward revision is driven by the mounting pricing pressure from supermarkets, which is largely an outcome of the rapidly expanding discount supermarket Aldi, growing private label penetration in more commoditised tissue products, and aggressive discounting by competitors. We maintain our no-moat, Standard stewardsh...Asaleo Care is a personal care and hygiene company. Co. is engaged in manufacturing, marketing, distributing and selling of everyday consumer products across the Feminine Care, Incontinence Care, Baby Care, Consumer Tissue and Professional Hygiene product categories. Co. has two reporting segments: Tissue, which manufactures and markets personal toilet tissue, paper towel, facial tissue, napkins and other tableware products within Australia, New Zealand and Pacific Islands; and Personal Care, which manufactures and markets personal hygiene products and nappies within Australia and New Zealand.
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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