Best Idea Credit Suisse: Expect Further Upgrades From Consensus
Our recently added Best Idea narrow-moat Credit Suisse reported first-quarter adjusted pretax profits of CHF 1.2 billion, a 34% year-on-year increase compared with the first quarter of 2017. We believe it is well placed to hit our full-year 2018 estimate of pretax profits of CHF 4.8 billion. Prior to the results announcement, consensus sat at CHF 4.4 billion, and we anticipate meaningful analyst estimate upgrades. The essence of our investment thesis is that Credit Suisse is not all that differe...Credit Suisse is a financial services provider based in Switzerland. Co. is active as an integrated bank. Co. operates through two global divisions, Private Banking and Corporate & Institutional Banking. Co. offers comprehensive advice and a broad range of financial solutions to private, corporate and institutional clients primarily domiciled in Switzerland. Co. maintains operations in three regionally focused divisions: Swiss Universal Bank, Asia Pacific and International Wealth Management serving Western Europe, Central and Eastern Europe, Latin America and Africa.
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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