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

<ul><li class="p1">Power Assets Holdings', or PAH's, planned purchase of a 48.75% stake in Husky Energy’s western Canada pipelines and storage units has limited impact on our fair value estimate, which we maintain at HKD 73.</li><li class="p1">While the acquisition should be accretive, it lifts forecast profit by only around 3% on a full-year contribution basis.</li><li class="p1">PAH can easily afford the CAD 865.5 million cost, which would still leave the firm with an estimated net cash hoard of HKD 56 billion.</li></ul><p><em>Analysts: Jennifer Song &amp; Lorraine Tan</em></p>

Power Assets Holdings', or PAH's, planned purchase of a 48.75% stake in Husky Energy’s western Canada pipelines and storage units has limited impact on our fair value estimate, which we maintain at HKD 73.While the acquisition should be accretive, it lifts forecast profit by only around 3% on a full-year contribution basis.PAH can easily afford the CAD 865.5 million cost, which would still leave the firm with an estimated net cash hoard of HKD 56 billion.Analysts: Jennifer Song &amp; Lorraine Tan

Minimal Impact to Power Assets' Fair Value Estimate From Proposed Husky Pipeline Purchase