Mitsui’s FVE Intact Despite Raising Near-Term Oil Price Forecasts Following OPEC’s Cut
We are raising our 2017 West Texas Intermediate price to USD 60 per barrel from USD 50, as OPEC’s output cut is expected to send oil prices up faster than we anticipate. Nonetheless, our fair value estimate of JPY 1,050 per share for Mitsui is intact, given that our long-term oil price assumption of USD 55/bbl WTI is unchanged. We retain our view that the company has no moat, as on average, its commodity assets do not have a cost advantage.Our prior forecast had the WTI price rising from USD 44...
Mitsui & Co. is a general trading company engaged in a range of global business activities including worldwide trading of various commodities, arranging financing for customers and suppliers in connection with Co.'s trading activities, organizing and coordinating industrial projects, participating in financing and investing arrangements, assisting in the procurement of raw materials and equipment, providing new technologies and processes for manufacturing, and coordinating transportation and marketing of finished goods. Americas, Europe, the Middle East and Africa, and Asia Pacific trade in various commodities and conduct related business led by overseas trading subsidiaries in each region.
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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