IHS Markit’s On-Track Third Quarter, Decision to Retain MarkitSERV Do Not Change Our Outlook
With third-quarter results in line with our near- and long-term targets for wide-moat IHS Markit, we do not plan a large change for our $51 per share valuation. We also do not expect its decision to keep MarkitSERV (a derivatives processing unit that accounted for less than 5% of fiscal 2017 sales) will materially alter our long-term outlook (mid-single-digit organic revenue growth and adjusted EBITDA margin expansion into the mid-40s, from 39% in fiscal 2017, through fiscal 2022).Year to date,...
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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