China redefines Blackmores' earnings prospects.
We retain our fair value estimate for narrow moat-rated Blackmores at AUD 154 per share, despite comments from Bega’s Executive Chairman, Barry Irvin, citing lower-than-expected sales of its Blackmores joint venture infant formula product in both China and Australia. The disappointment was attributed to oversupply in the market place and significant discounting, particularly in China.The Bega-Blackmores partnership was formed in late 2015 to capitalise on the surging demand in China for Austral...
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.
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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