We raised narrow-moat Siemens’ fair value estimate, and we believe shares are modestly undervalued.
Siemens and Alstom have agreed to combine Alstom’s assets with Siemens’ mobility business (including its rail traction drives business) to create the second-largest manufacturer of rolling stock, in order to cope with increasing competition out of China. Ahead of the deal's completion, which is expected at year-end 2018, Alstom will distribute EUR 8 per share to shareholders, resulting from a control premium (EUR 4 per share) and EUR 2.5 billion of proceeds from exercising put options in energy ...Siemens is a technology company. Co.'s Energy sector provides a range of products, solutions and services for generating and transmitting power. The Healthcare sector provides customers a range of medical solutions across the treatment chain. The Industry sector supplies products and solutions for industrial companies, primarily in the process and manufacturing industries. The Infrastructure & Cities sector provides a range of technologies that accelerates the capabilities of metropolitan centers and urban infrastructures. The Investments segment is comprised of Co.'s equity stakes in other companies. The Financial Services segment provides business-to-business financial solutions.
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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