Reinitiation of Coverage With No-Moat Rating and EUR 21.50 Fair Value Estimate
We reinitiate coverage of Ahold Delhaize following a change of analyst, with a no-moat rating and a EUR 21.5 fair value estimate, implying negligible upside potential.The investment case hinges on the likelihood of success in the merger with Delhaize, currently in its very early stages. The company's approach is comforting: No store banners will be changed, and both firms will continue to function autonomously within the group. Thus, customer disruption will be limited, as this normally occurs ...
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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