Millicom's underlying business continues to perform well, but this is hidden by weak currencies.
Millicom reported solid first-quarter results demonstrating the turnaround we’ve been predicting. Thus, we are maintaining our $86 per ADR fair value estimate and narrow moat rating. We continue to believe the shares are undervalued. The firm reported revenue growth of 3.9% versus our full-year projection of 2.4%. However, on an organic basis revenue only grew 2.9%. We were particularly happy to see revenue growth in every country in Latin America, even those that lost subscribers. Millicom has ...
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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