Zoomlion Returned to Profitability in 2017 Amid Strong Demand Recovery; FVE Raised to HKD 4.5
The no-moat Zoomlion expects 2017 net income to be in the range of CNY 1.3-1.4 billion, according to its preliminary result announcement. While the company’s estimate missed our forecast by roughly 15%, the underlying demand for company’s core product lines remains strong, and we expect the company’s earnings growth to be sustained into 2018 on the back of ongoing domestic economic recovery. After adjusting for an appreciating Chinese yuan and the company’s lower credit risk profile, we increase...
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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