Westpac Well Placed to Celebrate its 200th Birthday in Style in 2017. AUD 35 FVE Unchanged.
Following our post fiscal 2016 result catch up with senior management, we reaffirm our positive view on wide moat-rated major bank, Westpac Banking Corporation with our AUD 35 fair value estimate unchanged. In spite of widespread political and media criticism and scrutiny, in our opinion, Australia’s highly profitable wide moat-rated major bank oligopoly remains alive and well. Despite increasing 12% since recent lows in July 2016, Westpac stock is still undervalued trading 11% below valuation. ...
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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