High-quality and well-located assets support higher growth, while massive investment weighs on ROIC.
We’re maintaining our fair value estimate of HKD 9.60 per share for Cosco Shipping Ports, or CSP, following the company’s in line first quarter, with a decent 16% year-over-year growth in recurring net profit, which excludes the reclassification of Qingdao Qianwan Container Terminal for the pending acquisition of Qingdao Port International. The result was helped by a moderate recovery in throughput growth, as well as the contribution from newly acquired Euromax. We think the company’s target to ...Cosco Shipping Ports is an investment holding company. Through its subsidiaries, Co. is principally engaged in the businesses of managing and operating terminals, container leasing, management and sale, and their related businesses. Co. is organized into the following operating segments: terminals and related businesses including terminal operations, container handling, transportation and storage; and container leasing, management, sale and related businesses.
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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