Priceline's upcoming brand and IT investments will support its strengthening network advantage.
Similar to Expedia’s near-term investments, we view Priceline’s higher spend the next few years being done for offensive (market opportunity) versus defensive reasons (competition). We don’t expect much change to our $2,080 fair value estimate, and view the pullback in shares as an opportunity for investors.We see three takeaways from narrow-moat Priceline’s third quarter. First, Priceline is shifting ad spend to brand (TV) from performance (search and meta) to drive direct bookings. This shift...
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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