Telenor Reported Slightly Better 2016 Results; Shares Fairly Valued
Telenor reported 2016 results that were a bit ahead of our expectations, but we don’t anticipate any significant changes to our fair value estimate. Our narrow moat rating remains intact, and we believe the shares are fairly valued. The firm reported revenue increased 2.5% year over year, versus our projection of a 1.9% gain. However, it benefited from currency movements; otherwise, its revenue growth would have been just 1.1%. Its revenue growth was primarily driven through gains in Bulgaria, B...
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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