ASX FVE Raised to AUD 47.50 Following Surprisingly Strong First-Half Result
Wide-moat-rated ASX reported a strong first-half result that exceeded our expectations. We have increased our fair value estimate by 6% to AUD 47.50 per share, which reflects an increase in our revenue growth forecasts. However, at the current market price of AUD 55.93, we still view shares as overvalued. The key changes to our forecasts include increases to our forecasts for listings and issuer services and trading services revenue. Although the group revenue CAGR over the next decade has only ...
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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