No-Moat JD Delivered Strong 3Q Results; FVE Raised to $39 per Share
JD’s third-quarter results beat our expectations, and with the firm on track to achieve profitability this year, we increase our fair value estimate to $39 per share from $37.50. Shares remain fairly valued. Management retains full-year guidance of non-GAAP net profit margins of 1%-1.5% and guided to 35%-39% year-over-year growth in the fourth quarter. We still forecast 2017 revenue of CNY 359 billion and have raised our forecast for GAAP net income to CNY 1 billion (versus a loss of CNY 1.2 bil...
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.