Report
Nathan Zaia
EUR 147.86 For Business Accounts Only

BT Investment Management Transfer of Analyst Coverage

We have transferred analyst coverage of BT Investment Management. We reaffirm our current forecasts, DCF-based fair value estimate of AUD 8.50 per share, and wide moat and medium uncertainty ratings. The stock is currently trading close to our current fair value. We forecast a five-year CAGR in EPS of 6.8% to fiscal 2021.
BT Investment Management's narrow economic moat is based on a combination of intangible assets and switching costs, making it difficult for a new entrant to raise funds to a co...
Underlying
Pendal Group

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
Nathan Zaia

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