Travelport Sees Solid Results in International Markets and Payment Solutions; Narrow Moat Intact
Narrow-moat Travelport Worldwide reported a solid second quarter, posting sales and EBITDA growth of 8% and 7%, respectively, highlighted by share gains in several international markets (75% of platform revenue) and continued strength in its eNett payment business (13%). We don't expect a material change to our $18 fair value estimate with first-half sales and EBITDA up 6% and down 1%, respectively, tracking toward our 6% and 2% 2018 forecast. We see the shares as slightly overvalued.Travelport...
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.
We have operations in 27 countries.
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