Garmin Reports Better-Than-Expected 4Q Results, and We're Raising FVE to $59; Shares Fairly Valued
Garmin’s fourth-quarter figures came in ahead of our expectations and consensus. Narrow-moat segments aviation and marine, along with outdoor, continued to lead the way with double-digit revenue growth during the quarter, offset partially by a decline in auto. The firm provided top- and bottom-line 2018 guidance ahead of our projections. After taking into account management’s outlook and rolling our model forward, we now value Garmin at $59 per share, up from $56. The shares are down more than 4...
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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