Lowering Parexel's Fair Value to Account for Anticipated Near-Term Pressure on Its CRO Segment
We are modestly decreasing our fair value estimate for Parexel to $58 per share from $62 to account for our more pessimistic full-year outlook on the company’s contract research business. Following the release of Parexel’s delayed 10Q and negative first-quarter revisions, we slightly decreased our fiscal 2017 expectations for the segment’s sales growth and margin profile. Given the lumpy nature of the contract research business, we believe it is too early to adjust our long-term forecast, but wi...
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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