Morningstar - Aveo Group (AOG) Transferring Coverage of No-Moat Aveo Group; AUD 2.10 FVE Unchanged

Report

Morningstar

Mathew Hodge

EUR 100.00 For Business Accounts Only

Transferring Coverage of No-Moat Aveo Group; AUD 2.10 FVE Unchanged

We reiterate our AUD 2.10 fair value estimate for retirement operator Aveo Group following transfer of coverage to a new analyst. Our no-moat, medium fair value uncertainty, and Standard stewardship ratings are retained. Negative media attention since June 2017 and near-term earnings risk centred on slower unit sale rates have weighed on sentiment, but the firmâ€™s escalation in development activity could provide some upside earnings potential. The shares currently screen as fairly valued, trading...

24/05/2019 12 EN

Underlying

Aveo Group

Aveo Group is engaged in the development for resale of land and residential, retail, commercial and industrial property, the investment in, and management of, income producing retail, commercial and industrial Property, commercial, industrial and residential building and construction for the Group, and funds and asset management. As of June 30, 2016, Co. operated in two segments: Retirement, which develops and operates retirement villages and aged care facilities to produce rental and other income; and Non-retirement, which develops residential, commercial and retail property.

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AU000000AOG1 Australia

Provider

Morningstar

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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Analysts

Mathew Hodge

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Transferring Coverage of No-Moat Aveo Group; AUD 2.10 FVE Unchanged

Monthly LMI Update Independent Investment Research

Feasibility Study Results in December to be a Catalyst for this Junior

With a more favourable environment, AVEO GROUP improves to Positive

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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