Short-Term Headwinds, Longer-Term Opportunity With Prosegur
Narrow-moat Prosegur delivered a third-quarter update very much in line with our expectations for the full year. While foreign exchange rates had a heavy impact in the period, organic revenue growth remained strong, rising more than 8%. While we continue to adjust for weakening Latin American currencies, we do not expect to make any changes to our longer-term forecasts nor to our EUR 7.10 fair value estimate. We believe Prosegur shares currently offer an attractive opportunity to accumulate a po...Prosegur, Compania de Seguridad and its subsidiaries are engaged in the provision of security guards and related services; fund transport and handling through a fleet of armored vehicles; alarm and electronic security systems; distribution and auxiliary services, including storage, logistics and distribution services; document transport and courier services; cleaning services and temporary employment. Co. is also engaged in security consulting and external training.
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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