We're Reducing Our Ahold Delhaize Fair Value Estimate by 7% to EUR 20 After Disappointing Q3
Ahold Delhaize, or AD, reported disappointing third-quarter results showing poor cash generation and higher net debt levels than expected, coupled with weak U.S. performance due to pricing pressure. We trim our EBIT estimates by around 3%-4% for 2016 and beyond, and reduce our fair value estimate by 7% to EUR 20. Around two thirds of this reduction is due to adjustments to our net debt balance, with one third due to weaker operating estimates.Generally, top-line performance everywhere was reaso...
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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