On-Track Fourth Quarter Leaves Mead Johnson Poised to Meet Our Forecasts; Shares Undervalued
We do not plan to make a large change to our $82 per share valuation for wide-moat Mead Johnson after it posted fourth-quarter earnings that largely aligned with our targets. In 2016, Mead Johnson reported an 8% revenue decline against a 22% EBIT margin, near our 8% and 21% expectations, respectively. Encouraging signs in the firm's Asian unit as well as our continued belief that recent U.S. market share woes should pass, lead us to leave our long-term forecast intact (5% sales growth and 24% ma...
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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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