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

Sinopharm Group Co Ltd H / Equity Bottom-Up

<p>We initiate coverage of <a href="https://www.smartkarma.com/entities/32" target="_blank" data-smartkarma-citation="entities:32:1">Sinopharm Group Co (H) (1099 HK)</a> with a narrow moat rating and a fair value estimate of HKD 36 per share, implying a 2018 adjusted P/E ratio of 20.5 and an enterprise value/EBITDA of 6.9.</p><p>As the largest wholesale drug distributor in China, Sinopharm is well positioned to capitalize on the fast growth and rapid consolidation of its sector. Growth across all healthcare sectors in China will continue to outpace GDP, driven by demographics, rising incomes, and higher disease…</p>

We initiate coverage of Sinopharm Group Co (H) (1099 HK) with a narrow moat rating and a fair value estimate of HKD 36 per share, implying a 2018 adjusted P/E ratio of 20.5 and an enterprise value/EBITDA of 6.9.As the largest wholesale drug distributor in China, Sinopharm is well positioned to capitalize on the fast growth and rapid consolidation of its sector. Growth across all healthcare sectors in China will continue to outpace GDP, driven by demographics, rising incomes, and higher disease…

Initiating Coverage of Sinopharm with Narrow Moat Rating, FVE of HKD 36 Per Share