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.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

We maintain our earnings and fair value estimates following an investor day for narrow moat-rated Sydney Airport. The day included presentations from senior management to analysts and institutional investors, and a tour of the international airport.Overall, we walked away positive from the tour, with the airport currently seeing good passenger growth, partly driven by international airline capacity additions, and investment plans are in place to improve the customer experience and increase airport efficiency. The upgrades to the retail precinct in the international terminal were impressive and are expected to complete in the coming months, and should drive nonaeronautical revenue over the medium term. There was no new information regarding the proposed Western Sydney Airport at Badgerys Creek, with the Environmental Impact Statement and draft Airport Plan still being considered by the federal Minister for the Environment.Analysts: Andrew Moller, CFA &amp; Daniel Ragonese

We maintain our earnings and fair value estimates following an investor day for narrow moat-rated Sydney Airport. The day included presentations from senior management to analysts and institutional investors, and a tour of the international airport.Overall, we walked away positive from the tour, with the airport currently seeing good passenger growth, partly driven by international airline capacity additions, and investment plans are in place to improve the customer experience and increase airport efficiency. The upgrades to the retail precinct in the international terminal were impressive and are expected to complete in the coming months, and should drive nonaeronautical revenue over the medium term. There was no new information regarding the proposed Western Sydney Airport at Badgerys Creek, with the Environmental Impact Statement and draft Airport Plan still being considered by the federal Minister for the Environment.Analysts: Andrew Moller, CFA &amp; Daniel Ragonese

Sydney Airport

Getting Around Sydney Airport