Upgrading Tate & Lyle Estimates and Valuation on Continuing Sterling Weakness
Given the continuing weakness of the British pound sterling against major currencies such as the euro and the U.S. dollar since the U.K.'s EU referendum in June 2016, we are upgrading our earnings forecasts and fair value estimate for Tate & Lyle. Our new fair value estimate is GPX 590 per share, up 7%, but shares remain overvalued at current levels. Our no-moat and stable moat trend ratings are unchanged.While Tate & Lyle is domiciled in the United Kingdom, the company generates only 1...
Tate & Lyle and its subsidiaries are engaged in providing ingredients and solutions to the food, beverage and other industries. Co. has two segments: Specialty Food Ingredients (SFI) and Bulk Ingredients (BI). The SFI segment develops ingredients and solutions for customers globally for food and drink. Co. focuses on three areas of this market: texturants, sweeteners, and health and wellness. The BI segment provides food ingredients and industrial products primarily for customers in the North American market. The main product lines include: bulk sweeteners, industrial starches, acidulants, and commodities.
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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