Report
Grant Slade, CFA
EUR 100.00 For Business Accounts Only

Americas Margin Recovery In Sight For Wide-Moat Brambles; FVE Unchanged on Analyst Transfer

We retain our fair value estimate of AUD 11.20 per share for wide-moat Brambles following a transfer to another analyst. Our expectations for solid earnings growth are unchanged with an average EPS growth rate forecast of 8.0% for the five years to fiscal 2023, driven by continued expansion in emerging markets and efficiency initiatives across the global pallet-pooling network. Revenue growth in the core regions is likely to remain modest, driven by a consumption of economic growth and gradual c...
Underlying
Brambles Limited

Brambles is a supply-chain logistics company operating primarily through the CHEP and IFCO brands. Co. has three segments: Pallets segment, which primarily serves the consumer goods, fresh produce and beverage industries, and sub-divided into three regions: Americas, Europe, Middle East and Africa, and Asia-Pacific; Reusable Plastic or Produce Crates segment, which serves the fresh produce and food industry and comprising the IFCO RPC pooling business worldwide and the CHEP RPC pooling businesses in Australia, New Zealand and South Africa; and Containers segment, which comprises four business units: Automotive, Intermediate Bulk Containers, Oil and Gas, and Aerospace.

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
Grant Slade, CFA

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