Relaunching coverage of narrow-moat HD Supply with $43 per share fair value estimate.
Upon the transfer of coverage to a new analyst, we have taken a fresh look at HD Supply’s fundamentals and valuation. We are increasing our fair value estimate to $43 per share from $33. The increase in our fair value estimate is driven by our expectations for stronger growth over our 5-year forecast horizon, which added $6 per share to our valuation; we now see HD Supply’s top line growing at just under a 6% 5-year CAGR versus our previous assumption of a 4% CAGR. The remaining $4 per share inc...HD Supply Holdings is a holding company. Through its subsidiaries, the company is an industrial distributor in North America. The company's segments include: Facilities Maintenance and Construction and Industrial. The company's Facilities Maintrnance segment distributes maintenance, repair and operations products, provides services and fabricates custom products. Products include electrical and lighting items, and plumbing, heating, ventilating, and air conditioning products. The company's Construction and Industrial segment distributes hardware, tools and materials to non-residential and residential contractors. Products include tilt-up brace systems, forming and shoring systems, concrete chemicals, and cutting tools.
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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