Nestle Reports In-Line First Half; Shares Fairly Valued Amid Underwhelming Near-Term Growth
Nestle's first-half results were in line with our forecasts from an operating perspective, although some below-the-line items caused the firm to miss our half-year earnings expectations. We are maintaining our CHF 79 fair value estimate for the ordinary shares, but we are raising our valuation of the ADRs to $83 from $81 to account for the modest appreciation in the Swiss franc against the U.S. dollar since our previous update. These results demonstrate that organic growth remains well below his...
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.
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