Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We 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 more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 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, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

Canon reported slightly weaker-than-expected third-quarter results, but the bigger takeaway was management's commentary on the rapid slowdown in Southeast Asia (including China).While this may not prove to be the canary in the coal mine and could simply be a temporary blip, we continue to believe that Canon faces a number of secular headwinds and hints of "prolonged stagnation" in its developing regions should not be ignored.Our fundamental view on the name, which bakes in lackluster growth, remains intact. We expect to lower our fair value estimate on the local and ADR shares slightly, driven by a lowered outlook and current foreign exchange rates, respectively. Shares will still trade in 3-star territory and we'd prefer a wider margin of safety before investing.Analyst:&nbsp;Peter Wahlstrom

Canon reported slightly weaker-than-expected third-quarter results, but the bigger takeaway was management's commentary on the rapid slowdown in Southeast Asia (including China).While this may not prove to be the canary in the coal mine and could simply be a temporary blip, we continue to believe that Canon faces a number of secular headwinds and hints of "prolonged stagnation" in its developing regions should not be ignored.Our fundamental view on the name, which bakes in lackluster growth, remains intact. We expect to lower our fair value estimate on the local and ADR shares slightly, driven by a lowered outlook and current foreign exchange rates, respectively. Shares will still trade in 3-star territory and we'd prefer a wider margin of safety before investing.Analyst:&nbsp;Peter Wahlstrom

Canon Still Facing Headwinds in 3Q, Cites Rapid Slowdown in Southeast Asia; Shares Fairly Valued 

Canon Inc

Canon Still Facing Headwinds in 3Q, Cites Rapid Slowdown in Southeast Asia; Shares Fairly Valued