After Buffett’s Blessing, We’re Not Finding Any Bargains in the U.S. Airline Sector
We are transferring coverage of two U.S. Airlines--Southwest and United--and simultaneously launching coverage on Delta and American. Although sentiment recently turned bullish on airlines, we don’t find any undervalued stocks in our U.S. coverage list; the average price/fair value ratio is 1.09. Moreover, we maintain that airlines lack a moat. We’re cautious on airlines but think 2017 might provide investors with possible buying opportunities.All four airlines we cover--Southwest, United, Amer...
Delta Air Lines provides scheduled air transportation for passengers and cargo. The company serves the Transatlantic, Transpacific and Latin America markets directly on the company and through joint ventures with airline partners. Internationally, the company has hubs and market presence in Amsterdam, London-Heathrow, Mexico City, Paris-Charles de Gaulle and Seoul-Incheon. These arrangements are commercial joint ventures that include joint sales and marketing coordination, co-location of airport facilities and other commercial cooperation arrangements. The company has other businesses arising from its airline operations, including providing maintenance and engineering support for its regional aircraft.
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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