Initiating Coverage on PTC Inc. with FVE of $66 Per Share; Favorable Long-Term Competitive Position
We are initiating coverage of PTC, a computer-aided design, or CAD, product lifecycle management, or PLM, and more recently, an Internet of Things, or IoT, software provider. We initiate coverage on this $8 billion market capitalization company with narrow economic moat and positive moat trend ratings, and a $66 fair value estimate, which equates to a price/fair value of 1.08.We believe that PTC has carved out a narrow economic moat in the discrete manufacturing space. The firm has been able to...
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.
We have operations in 27 countries.
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