Raising PRA's FVE to $78 After Robust 3Q Results and Updated Guidance
After receiving more detailed guidance regarding PRA’s acquisition of Symphony Health, a healthcare data and analytics firm, in its third-quarter earnings call, we are raising our fair value estimate to $78 per share from $72. Management updated its top-line guidance to $1.914 billion-$1.926 billion to reflect the completion of the Symphony Health acquisition and increased its earnings expectations to $2.31-$2.38 per share to also capture better-than-expected sales, general, and administrative l...
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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