QuintilesIMS’ Robust 3Q Sets It Up for a Solid First Year; Raising FVE to $100
QuintilesIMS’ third-quarter results fall in line with our expectations and sets the firm up for a solid full year as a combined entity. We are raising our fair value estimate for the wide-moat firm to $100 per share from $91, which largely reflects the time value of money and our updated working capital assumptions. We believe QuintilesIMS’ scale and intangible assets places the firm at the front of its contract research organization competitors and is expected to maintain its advantage position...
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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