Maintaining Charles River's $75 FVE After Soft 3Q; Shares Remain Overvalued After Sell-Off
We are maintaining our $75 per share fair value estimate for early-stage contract research organization Charles River after commentary from third-quarter earnings highlighted weakness ahead. Demand for the company’s research model business outside of China is expected to contract as technological and clinical trial advancements curb the need for the same volume of research models as seen in the past. We believe the business still merits a narrow moat rating as we believe research models will rem...
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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