Blue Buffalo Shares’ Rally Validates Our View That Brand Strength Stands to Drive Growth
After narrow-moat Blue Buffalo approached $21.50 per share in August, the stock has gained over 30%, rising to all-time highs. The shares now trade in line with our $28.50 per share fair value estimate. We believe the surge validates our contention that midsummer sentiment did not adequately credit the company’s brand strength.News that the firm is entering the food, drug, and mass-market channels helped trigger the rebound. We still believe Blue Buffalo is at a disadvantage relative to its lar...
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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