Transferring Coverage on Canadian Airlines, WestJet and Air Canada; Both Look Slightly Undervalued
We are transferring coverage of two Canadian airlines, WestJet and Air Canada. Both carriers are slightly undervalued but neither is a bargain and we don’t detect economic moats for the carriers. The price to fair value for WestJet and Air Canada stands at 0.87 and 0.78, respectively. We think investors are cautious due to concerns over the Canadian economy, continued capacity expansion from both carriers, and the potential for higher fuel prices in 2017. While we think Air Canada is more attrac...WestJet Airlines is a Canadian airline. Co. provides scheduled and charter commercial air travel, vacation packages and cargo services across North America, Central America, the Caribbean and Europe. Co.'s commercial air travel business also supports a variety of other product and service offerings including: flight change and cancel options; upgrading to its Plus seating; baggage fees; food, beverage and inflight entertainment options; and its WestJet RBC MasterCard. Co.'s vacation package provides a variety of products and services purchased through packages such as: flights, hotel accommodations, car rentals and tour attractions.
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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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