Swisscom Continues to Hold 60% Wireless Market Share, but Fixed-Line Pressured; Maintaining FVE
Swisscom reported slightly better year-end results than we expected, but we don’t expect any significant change to our fair value estimate. Our narrow moat rating remains and we believe the shares are slightly overvalued. The firm reported revenue grew 0.2% year over year. However, without currency gains, its revenue would have declined 0.2%, similar to our projection of a 0.4% decline. The Swiss market is becoming increasingly competitive, which has caused Swisscom to increase marketing and oth...
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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