Diversification Continues as Flight Centre's Domestic Operations Mature
Flight Centre's latest purchase in Europe has minimal near-term earnings impact on the group. The estimated AUD 163 million turnover from the acquired businesses in Sweden, Denmark, Norway, Finland and Germany is a mere drop in the ocean compared with the company's total transaction value, or TTV, base of AUD 19.3 billion. As such, we make no changes to our forecasts, and the stock is trading 9% above our unchanged AUD 33.00 fair value estimate.The purchase (undisclosed sum), nevertheless, cont...
Flight Centre Travel Group is engaged in the travel retailing in both the leisure and corporate travel sectors, plus wholesaling.
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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