We've Raised Our Takeda Fair Value Estimate, but Concerns Remain on Competitive Landscape
We raised our Takeda fair value estimate to JPY 4,960 per share from JPY 4,728, based on our incorporation of the Ariad acquisition, our new assumptions for long-term U.S. tax rates, and the time value of money since our last update. However, we still see shares as slightly overvalued, and given the firm's low ROICs and thin pipeline, we do not assign the firm a moat.On a reported basis, we think Takeda is poised to see average annual top-line growth of 2% through 2021, as generic penetration...
Takeda Pharmaceutical is a public company incorporated in Japan. Co. and its subsidiaries is a global pharmaceutical group and is engaged in the research, development, manufacturing and marketing of pharmaceutical products, over-the-counter (“OTC”) medicines and quasi-drug consumer products, and other healthcare products. Co.'s principal pharmaceutical products include medicines in the following therapeutic areas: gastroenterology, oncology and neuroscience.
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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