Report
Brian Han
EUR 100.00 For Business Accounts Only

Internal Diversity Offsetting External Adversity While Nine Continues Reshaping for the Future

Shares in Nine Entertainment have rallied almost 40% (inclusive of dividends) since the release of its fiscal 2019 interim result in February 2019, and are now trading close to our unchanged AUD 2.00 fair value estimate. This is a stellar performance against a weak industry backdrop, with both the overall and free-to-air TV advertising market down mid-single-digit percentage points since the start of 2019, notwithstanding a one-off boost from election-related expenditures.
The benefits of Nine's...
Underlying
Nine Entertainment Co. Holdings Limited

Nine Entertainment Co. Holdings is engaged in the television broadcasting and program production and digital, internet, subscription television, and other media sectors. Co. manages its business based on two reportable segments: television, which includes free to air television activities; and digital, which includes its Nine Digital Pty Limited subsidiary and other digital activities.

Provider
Morningstar
Morningstar

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.

Analysts
Brian Han

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