Travelport Reports Encouraging 1Q Payment and International Trends; Shares Fairly Valued
We plan to lift our $17 fair value estimate for narrow-moat Travelport by a mid-single-digit percentage to account for incremental strength in the payment (10% of sales) and overseas (70%) business, leaving the shares fairly valued.Travelport’s payment offering, eNett, increased sales 81% (66% constant currency) in the first quarter, as its currency settlement advantage led to increased wallet share. This is evident in the 62% sales rise from pre-2016 eNett clients (post-2016 customer sales gre...
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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