We're Cutting Our Sprint FVE on a Weaker Outlook for the Stand-Alone Business
We’re lowering our Sprint fair value estimate to $5.75 from $6.40, primarily reflecting a more negative view of the firm’s prospects as a stand-alone firm, though we maintain our belief that the T-Mobile merger has a 50% chance of winning regulatory approval. We continue to believe Sprint lacks an economic moat, but given our diminished view of the stand-alone firm, we have lowered our moat trend rating to negative from stable. Absent the T-Mobile merger, we expect Sprint’s competitive disadvant...Sprint is a holding company. Through its subsidiaries, the company is a communications company providing wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers. The company has two segments: Wireless, which provides wireless services on a postpaid and prepaid payment basis to retail subscribers and also on a wholesale basis, including the sale of wireless services that utilize the company's network but are sold under the wholesaler's brand; and Wireline, which provides a suite of wireline communication services to other communications companies and targeted business customers, as well as voice, data and internet protocol communication services.
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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