Millicom Generates Solid 2Q Revenue, Demonstrating Our Thesis Is Progressing; Shares Undervalued
Millicom reported mixed second-quarter results, with solid revenue growth but light EBITDA margins. We believe these results demonstrate that our thesis is playing out and we are maintaining our fair value estimate of $86 per ADR and narrow moat rating. We continue to believe the shares are undervalued.The firm reported revenue growth of 4.8% year over year, well ahead of our 2.3% full-year projection. Revenue grew in all three of its main divisions, with mobile B2C up 2.1%, home growing 12.6%...
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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