Report
Chris Kallos, CFA
EUR 147.86 For Business Accounts Only

China redefines Blackmores' earnings prospects.

We are increasing our fair value estimate for Blackmores to AUD 154 per share from AUD 150, due to time value of money. Our narrow moat and high fair value uncertainty remain intact and reflect Blackmores heritage brand status and its significant exposure to regulatory risk associated with the evolving cross-border tax environment in China, respectively. Blackmores has announced the acquisition of privately held Global Therapeutics, or Global, an Australian vitamin and supplement business establ...
Underlying
Blackmores Limited

Blackmores is engaged in the development, sales and marketing of health products for humans and animals including vitamins and herbal and mineral nutritional supplements. As of June 30 2016, Co. operated in Australia, New Zealand and Asia.

Provider
Morningstar
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.

Analysts
Chris Kallos, CFA

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