Lowering Core's FVE as We Transfer Coverage; Even So, This Is the Sector's Best Business
As we transfer coverage to a new analyst, we have updated our Core Labs financial forecasts and long-term outlook. As a result, we are reducing our fair value estimate to $102 per share from $114. Our updated fair value estimate is derived by applying an 18 times enterprise value/EBITDA multiple to our 2021 EBITDA forecast of $335 million.ÂDespite this reduction, we still view this wide-moat firm as the best firm we cover within both oil services and the broader energy complex. In a sector that...
Core Laboratories is a holding company. Co. is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. Co. has three segments: reservoir description, which encompasses the characterization of petroleum reservoir rock, fluid and gas samples; production enhancement, which includes products and services relating to reservoir well completions, perforations, stimulations and production; and reservoir management, which combines and integrates information from reservoir description and production enhancement services to increase production and improve recovery of oil and gas from its clients' reservoirs.
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.
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