Ericsson Quarterly Results Were In Line With Pre-Announcement; Expecting More Weakness in Near Term
Ericsson reported a steep 14% year-over-year decline in revenue, in line with the negative pre-announcement issued earlier in October. Despite a difficult macro environment and weakening profitability profile, we remain of the view that Ericsson holds solid potential for successful turnaround when spending ramps back up. We will maintain our no-moat rating and $9 fair value estimate for the firm. We continue to believe that shares are significantly undervalued and provide an attractive opportuni...
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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