Report
Allan C. Nichols
EUR 98.48 For Business Accounts Only

SFR focuses on its fibre footprint to compete.

SFR reported mixed 2016 results with better revenue but weaker margins. We anticipate these two items will basically offset each other and don't expect any significant changes to our fair value estimate. Our narrow moat rating is intact, and we still believe the shares are undervalued. In the fourth quarter, SFR generated organic revenue growth (0.6%) for the first time in six years, which enabled its revenue to only decline 0.4% year over year versus our projection of a 2.4% drop, including acq...
Underlying
Provider
Morningstar
Morningstar

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.

Analysts
Allan C. Nichols

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