Prada continues to face headwinds and lags peers, but shares are undervalued and declines improving
We still rate Prada Group a wide moat and will likely clip our HKD 38 fair value estimate a few percent following the company’s analyst meeting in New York. We had already partially incorporated the financial results released ahead of the meeting; however, it now appears it might take until 2017 to return to growth. We had modeled a slight decline for 2016 and a gradual return to mid-single-digits growth in the next three to five years. Overall, the lower growth rate will be offset by lower capi...PRADA is engaged the luxury goods sector where it operates with the Prada, Miu Miu, Church's and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Co. also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Co.'s products are sold in 70 countries worldwide through a network that included 540 Directly Operated Stores (DOS), and a select network of luxury department stores, independent retailers and franchise stores.
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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