Initiation of Narrow-Moat Yutong with Stable Trend, and FVE of CNY 24.5 per Share
At a fair value estimate of CNY 24.5 per share, we initiate coverage of Zhengzhou Yutong Group, or Yutong, with a narrow moat rating and stable moat trend. Yutong’s moat is underpinned by intangible assets in the form of a comprehensive, technically advanced product portfolio and nationwide servicing network, which warrants persistent pricing premium. It also enjoys cost advantage from achieving economies of scale via having the largest production capacity in its core segments. As one of the mos...ZHENGZHOU YUTONG BUS CO.,LTD. is a China-based company principally engaged in the research and development, manufacture and sale of passenger car products. The main products of the Company consist of urban buses, seat coaches, school coaches and other types of passenger cars. The Company also provides ground passenger transportation services. The Company distributes its products within domestic markets and to overseas markets.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.