Ceasing Coverage on Freightways
We plan to cease coverage on Freightways Limited in August. We periodically adjust our coverage as necessary based on stock outlook, client demand, and investor interest. Freightways is a good-quality small cap, but it is materially overvalued based on our fair value estimate and we believe our efforts are better spent elsewhere.Freightways commands a strong market position in a duopolistic express package landscape in New Zealand. The company's nationwide distribution network and scale efficie...
Freightways is engaged in the express package, business mail and information management industries. Co. and its subsidiaries are organized into three business segments. The Express package and business mail segment comprises network courier, point-to-point courier and postal services. The Information management segment comprises secure paper-based and electronic business information management services. The Corporate and other segment comprises corporate, financing and property management services. Co. also manages its road and air linehaul requirements through the Parceline Express and Fieldair businesses.
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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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