Launching Coverage of Farfetch With No-Moat and Stable Trend Rating and $17.10 FVE
We are initiating coverage of Farfetch, the leading platform for the online distribution of personal luxury goods, with a no-moat and stable trend rating and a fair value estimate of $17.10 per share. In our view, the shares look expensive, as the market seems to underappreciate mounting competitive threats. Hence, we would recommend investors to wait for a better entry point into the name.We believe Farfetch benefits from traces of a network advantage moat source, but we lack confidence in the...
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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