Roche's Strong 2018 Results and Solid 2019 Outlook Support Our Bullish Call and Wide Moat Rating
We're maintaining our Roche fair value estimate of CHF 333 per nonvoting share and $42 per ADR following a particularly strong fourth quarter and solid guidance for 2019 despite increasing biosimilar threats. While shares reacted positively to the news, we continue to believe that the market underappreciates the ability of the firm's pipeline and newer marketed drugs to offset biosimilar headwinds. Management's guidance for 2019 for low- to mid-single-digit top-line growth, similar core EPS grow...
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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