Liberty Global's 1Q Results a Bit Weak; Shares Undervalued
Liberty Global reported first-quarter results that were a bit light, but we don’t expect any significant changes to our $38 fair value estimate. Our narrow moat rating is intact, and we believe the shares are undervalued.Liberty Global counts its operations in Germany, Romania, Hungary, and the Czech Republic as discontinued operations on the expectation that its deal to sell these businesses to Vodafone will be approved. We continue to model Liberty Global as if the deal doesn’t close, so our ...
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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