Morningstar, Inc. and Morningstar Investment Management LLC shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, the information, data, analyses or opinions or their use. We have raised our fair value estimate to $61 per share (from $59).Disney Continues to Invest in DTC Efforts; Investor Day Highlights the International Opportunity by Neil Macker, CFA | Morningstar Research Services LLC | 12-11-20Disney outlined an aggressive direct-to-consumer strategy at its investor day on Dec. 10 as the company appears to be taking the fight to Netflix globally. Get free, instant analysis of stock or mutual fund investment portfolio holdings before trading with Instant X-Ray from Morningstar. seek long-term capital appreciation ahead of the S&P 500 Index, focusing on companies Welcome to the Morningstar Investing Classroom powered by the Financial Fitness Group. Enbridge believes that the increased performance will be driven by a recovery of Mainline volumes and the associated downstream pipelines; customer growth in the gas utilities business; rate increases on its gas pipelines; and the impact of new projects, including the Line 3 replacement. This commentary is for informational purposes only and has not been tailored to suit any individual. The midpoint of the guidance range represents a 4% increase from the 2020 midpoint and is in line with our expectations. Morningstar appears to base its recommendations on an unbiased scale, while the Zacks Investment Research rating system is based solely on giving its members the most potential … 3 Tips for Riding Out the Stock Market Volatility, Focus on Prime Boosts Amazon's 3rd Quarter, Baidu Troubles Highlight Challenge of Investing in China, Morningstar StockInvestor Subscriber's Handbook. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst ratings are based on Morningstar’s analysts’ current expectations about future events and therefore involve unknown risks and uncertainties that may cause such expectations not to occur or to differ significantly from what was expected. Go here for important performance information. Morningstar’s moat committee, which assigns economic moat and moat trend ratings to The information, data, analyses, and opinions presented herein do not constitute investment advice, are provided as of the date written, are provided solely for informational purposes and therefore are not an offer to buy or sell a security. StockInvestorSM focuses on the activities of portfolios of Morningstar, Inc. that are invested in accordance with the Tortoise and Hare strategies. their global coverage. The Weekly Roundup contains all Analyst Notes that relate to holdings in Morningstar, Inc.'s Tortoise and Hare Portfolios. He holds a bachelor's degree in economics from First, we plan to adjust our 2021 outlook for improved profitability. care and pharmaceutical services companies. Morningstar delivers ratings and independent analyst-driven research to help you evaluate a fund and its potential role in an investment portfolio. Dhaval Kapadia, Director, Portfolio Specialist, Morningstar Investment Adviser India Pvt. We continue to expect the firm to become GAAP profitable in 2024. About Us Morningstar's Investment Management Group grows out of the mission to help people reach their financial goals started at Morningstar, Inc. nearly four decades ago. more Clean Shares Then, we expect to reduce our terminal selling, general, and administrative cost ratio by more than 100 basis points, to around 18%, as Lowe's captures additional benefits from operating efficiencies, leading to another $5 in fair value upside. Analyst ratings are not guarantees nor should they be viewed as an assessment of a stock's creditworthiness. With these goals well underway, we see a clear pathway to newly laid out goals, with few hurdles in the way of success.Oracle's Q2 Beats Expectations While Leaving Some Demand on the Tableby Julie Bhusal Sharma | Morningstar Research Services LLC | 12-10-20Oracle reported second-quarter fiscal 2021 results beating CapIQ consensus estimates for revenue and adjusted earnings per share. A mutual fund is a type of investment vehicle consisting of a portfolio of stocks, bonds, or other securities, which is overseen by a professional money manager. In addition, competition for Facebook continues to emerge. This single-year productivity lift raises our intrinsic value by $5. five equity strategies offered by Morningstar Investment Management LLC and Morningstar Investment Services LLC since December 2013. Even with 86.8 million current subscribers, Disney believes that Disney+ can triple in size over the next four fiscal years. degree from Loyola Marymount University, an MBA from Cornell University and is a CFA © We expect the courts to side with the FTC regarding limitations on future acquisitions, but we think the likelihood of a forced breakup is low. business services, and consumer industries. However, these gains are offset by two factors. Uber will also invest $400 million in Aurora when the deal closes (likely in the first quarter of 2021), after which Uber will own around 26% of Aurora. Learn more about the changes and how our new features help your investing … Accordingly, Enbridge expects first-quarter 2021 volumes to average 2.7 million barrels of oil per day, which is also above our previous expectations and compares favorably with 2.56 mmbbl/d in third-quarter 2020.Management also announced its 2021 distributable cash flow guidance of CAD 9.6 billion-CAD 10 billion, or CAD 4.70-CAD 5.00 per share. Recall Marvin Ellison had arrived as CEO at Lowe's just six months prior to the company's last investor day and laid out qualitative 2020 goals that included realizing benefits from its turnaround efforts, driving market share gains through its omnichannel investments, and increasing profitability. First, it removes the drag that ATG has on Uber's bottom line because of the necessary high investments in research and development. companies in its global coverage universe. Portfolio Manager Track your investment portfolio, evaluate your strategy, and create watchlists of potential opportunities. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. Disney also showed or discussed over 100 pieces of content that will stream on its DTC platforms over the next three years. LLC’s Hare strategy. Morningstar Managed Portfolios Advisor and Investor Login. Despite the uptick, the stock remains highly undervalued.Facebook's Legal Battles With FTC and States Could Provide Upside; Maintaining $306 FVEby Ali Mogharabi | Morningstar Research Services LLC | 12-10-20The Federal Trade Commission and 47 states have filed separate antitrust suits against Facebook. The pricing differential is low enough that we expect very few subscribers to sign up for just Star+. Prior to joining Morningstar in 2004, Michael worked at a public accounting firm and in The information contained in this document is the proprietary material of Morningstar. Inquiries regarding your subscription such as address changes, missing/damaged issues, etc. Sharesight truly revolutionized the online portfolio tracking space. International shares may provide many benefits to your broader investment portfolio. Pinterest, Snap, and Twitter have accelerated user growth and monetization recently, and newer competitors like TikTok have emerged.Undoing Facebook's Instagram and WhatsApp acquisitions would also likely hurt advertisers. Reproduction, transcription, or other use, by any means, in whole or in part, without the prior written consent of Morningstar, is prohibited. Login to your Morningstar Managed Portfolios account. Before focusing his attention on the Tortoise, Michael co-managed One, the gross margin will improve less than we originally thought, with a terminal gross margin just above 33%, rather than the 34% we had modeled (as supply chain investments offset pricing gains). Our site uses cookies and other technologies to tailor your experience and understand how you and other visitors use our site. Investors should seriously consider if the investment is suitable for them by referencing their own financial position, investment objectives, and risk profile before making any investment decision. ... taking into account the beginning and end values of your investments … The objective of Morningstar, Inc.’s Hare Portfolio is to Instead of a global standalone service, the Star content will be placed into Disney+ under a Star banner in Europe, Canada, Australia, New Zealand, and Singapore. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Will U.S. Tax Reform Lead to Growth or Inflation? Sign in or sign up for a Morningstar Basic membership, to access our trusted personal finance expertise, investment screeners, and portfolio management tools. We hope you enjoy your journey to improve your financial fitness! We are set to make a few changes across our forecast that lead to this increase. Sharesight. Morningstar's analysts are employed by Morningstar, Inc. or its subsidiaries. Our Managed Portfolios Professionally managed portfolios driven by our unique valuation approach with a range of risk exposures, time horizons, and investment objectives designed to meet your needs. The market reacted favorably to the company's business update, and the stock is up over 1% on a day when the general market is stagnant and oil is down. analyst on Morningstar Inc.’s equity research team covering companies in the media, with strong and growing competitive advantages. The FTC claims Facebook has illegally attained market power through the acquisitions of Instagram and WhatsApp and is requesting that the courts order Facebook to spin off those businesses. This bundled strategy is similar to the Disney+ Hotstar service that the company uses in India and Indonesia that now make up 30% of all Disney+ subscribers.------------------------------------------------------------Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. INVESTING - MUTUAL FUNDS Morningstar ranks Indian fund industry top grade for disclosure India and U.S. get the top grade for robust disclosures on portfolio holdings and other … Lowe's currently expects a 2021 operating margin of 12%, while our model projects about 10.5%. Timely investment insights from Morningstar Investment Management to help you navigate today's markets. He holds a bachelor's StockInvestorSM focuses on the activities of portfolios of Morningstar, Inc. that are invested in accordance with the Tortoise and Hare strategies. While demand for Oracle's IaaS is encouraging, Oracle's inability to forecast such demand is not, and we expect overall demand for OCI to still fall short of what demand is for more robust IaaS competitors like AWS and Azure. to accept greater risk in exchange for higher total return potential. While antitrust laws were initially intended to foster competition by protecting rival companies, interpretations of those laws began to change in the 1970s as courts emphasized consumer welfare, not only firm size. Ratings, analysis, and other analyst thoughts are provided for informational purposes only; references to securities should not be considered an offer or solicitation to buy or sell the securities. Matthew Coffina, CFA, is the portfolio manager for Morningstar Investment Management Michael Corty, CFA, is the portfolio manager for Morningstar Investment Management The FTC also wants to restrain Facebook from making acquisitions in the future. Fund prices, fact sheets, investment research, advice and portfolio tools for OEICs, unit trusts, ISAs, PEPs, ETFs, offshore, and life and pension funds Welcome to the new my.morningstar.com! Morningstar is willing for the Hare There can be no assurance that any financial strategy will be successful.Common stocks are typically subject to greater fluctuations in market value than other asset classes as a result of factors such as a company's business performance, investor perceptions, stock market trends and general economic conditions.All Morningstar Stock Analyst Notes were published by Morningstar, Inc. Springfield. The bundle of Star+ and Disney+ will cost roughly $9 per month. The firm's network effect benefits current customers as additional users jump on the platform. Notably, on the earnings call, however, was Chairman Larry Ellison's comments on how Oracle's supply fell short of demand as a result of Oracle's lack of capacity in Oracle Cloud Infrastructure, or OCI,--which is Oracle's infrastructure as a services, or IaaS, offering. Impressively, Lowe's could now reach nearly 13% operating margin in 2025, above the 11.5% we had been expecting.With surpassing the prior 2018 investor goal for sales per square foot (SSF) of $370, Lowe's has lifted its SSF target to $460, elevated by merchandising shifts that should help increase inventory turns and throughput (more local merchandising, labor hours allocated more efficiently). Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially and/or substantially from any future results, performance or achievements expressed or implied by those projected in the forward-looking statements for any reason.Investments in securities are subject to investment risk, including possible loss of principal. Build model portfolios and track your investments with our portfolio … Welcome to the Morningstar Investing Classroom powered by the Financial Fitness Group. Securities in this report are not FDIC-insured, may lose value, and are not guaranteed by a bank or other financial institution. Second, the agreement positions Uber to benefit from the possible transition to autonomous vehicle-based mobility and delivery in future as this agreement also includes a partnership in which Aurora's future self-driving cars will use Uber's platform.We estimate this sale will remove around $400 million in annual adjusted EBITDA losses and will allow Uber to generate full-year positive adjusted EBITDA and operating income in 2022 and 2023, respectively; both a year earlier than we had previously assumed. Phone: 1-800-957-6021 | Mon-Fri 8:30AM-5:00PM, Inquiries regarding technical issues such as logging in or downloading, Inquiries regarding your subscription renewal, billing or to learn about other Morningstar investment publications and resources, Phone: 1-866-608-9570 | Monday-Friday 8AM-5PM CST, Please see new analyst notes and updates below from Morningstar Research Services for. The company also increased its quarterly dividend by 3% to CAD 0.835, a 7.6% yield on an annual basis. Global X ETFs Joins Our Model Marketplace; New Fixed Income Exposure Analysis component available; 4. Working with Portfolios; Select "Free" View Only ESG Company Level Data Added to Morningstar … Matt was previously a senior healthcare analyst, covering managed Michael also spent several years on The investment philosophy is demonstrated through two portfolios owned by Morningstar, Inc.: The Tortoise and Hare. All data presented is based on the most recent information available to Morningstar, Inc. as of the release date and may or may not be an accurate reflection of current data. Growth in the segment offset year-over-year declines in Oracle's smaller business units, cloud license and on-premise, hardware and services, which did not come as a surprise given the segments' exposure to more legacy IT needs. The leadership team continued to refrain from providing full fiscal year guidance due to limited visibility from the COVID-19 pandemic.Uber Technologies Will Sell ATG; Path to Profitability Becoming Clearer; Raising FVE to $61by Ali Mogharabi | Morningstar Research Services LLC | 12-08-20Uber Technologies has announced the sale of its autonomous vehicle technology business, ATG, to Aurora, an autonomous vehicle technology company, for an equity stake in Aurora. We are maintaining our $43 U.S. fair value due to changes in foreign-exchange rates. degree in biology from Skidmore College and a master's In the United States, that subsidiary is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission.David Harrell may own stocks from the Tortoise and Hare Portfolios in his personal accounts. Roundup 12/11/20 -- Fair Value Increases for Disney and Uber. The Morningstar name and logo are registered marks of Morningstar, Inc. There is no assurance that the data will remain the same.Disclosure:The commentary, analysis, references to, and performance information contained within Morningstar® StockInvestorSM, except where explicitly noted, reflects that of portfolios owned by Morningstar, Inc. that are invested in accordance with the Tortoise and Hare strategies managed by Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc. References to "Morningstar" refer to Morningstar, Inc.Opinions expressed are as of the current date and are subject to change without notice. If you are a financial advisor or financial service firm seeking solutions to help educate, empower, and engage clients then click here to learn more about how we can help. Hare Portfolio. Morningstar Financial Research conducts Analysis on Markets, Mutual Fund, Stocks and ETFs through Investment Data and News. The Morningstar name and logo are registered marks of Morningstar, Inc. Fund research tools and analytics for investors. At this point, the Mainline's heavy oil capacity is full, and demand for light capacity continues to increase. document.write(day.getFullYear()); Ratings, analysis, and other analyst thoughts are provided for informational purposes only; references to securities should not be considered an offer or solicitation to buy or sell the securities.©2020 Morningstar, Inc. All rights reserved. These portfolios are managed by Morningstar Investment Management LLC, a registered investment adviser, which manages other client portfolios using these strategies.Please see new analyst notes and updates below from Morningstar Research Services for Enbridge ENB, Facebook FB, Lowe's LOW, Oracle ORCL, Uber Technologies UBER, and Walt Disney DIS.Best wishes,David Harrell,Editor, Morningstar StockInvestorEnbridge Expects a Rebound in 2021, Increases Dividend by 3%by Joe Gemino, CPA | Morningstar Research Services LLC | 12-08-20Wide-moat Enbridge announced 2021 full-year adjusted EBITDA guidance of CAD 13.9 billion-CAD 14.3 billion at its annual investor day on Dec. 8, which is above our previous forecasts. flow model used by Morningstar analysts to assign fair value estimates to most of the LLC’s Tortoise strategy. We applaud this deal for two reasons. These metrics are consistent with management's targets and provide a generous margin of safety.We are increasing our fair value estimate slightly to CAD 57 from CAD 56, as we now expect higher Mainline volumes in 2021. In addition, we encourage you to read this important disclosure. We hope you enjoy your journey to improve your financial fitness! Matt also developed the discounted cash Michael was previously a senior equity the business lending arm of a major commercial bank. Prices of securities may fluctuate from time to time and may even become valueless. Learn how Morningstar's independent analyst team rates and continuously monitors mutual funds, so you can find the best investments for your portfolio FundInvestor StockInvestor Considering the quarter's results and third-quarter outlook roughly in line with our former expectations, we are maintaining our fair value estimate of $53 per share for Oracle. We are raising our fair value estimate to $140 from $127 due to much higher subscriber growth offset slightly by higher content spending.As part of its global battle with Netflix, Disney is launching a general entertainment content offering under the Star brand. degree in biology from the University of Illinois at Ltd. shares his perspective on the measures announced by RBI today to revive the economy and how debt fund investors should position their portfolios… charterholder. Given that all of Facebook's businesses are globalized and have created strong engagement among users in nearly all areas globally, advertisers have gained the ability to reach potential customers in new ways, with ad prices generally falling in recent years.Lowe's Set to Capture Operating Margin Gains Thanks to Retail Fundamentals Focusby Jaime M. Katz, CFA | Morningstar Research Services LLC | 12-09-20We plan to raise our $140 fair value estimate for wide-moat Lowe's by around $5, updating our longer-term outlook after digesting the firm's forecast following its investor meeting. 3 % to CAD 0.835, a morningstar investment portfolio % yield on an basis! Ratings to their global coverage he holds a bachelor's degree in biology from the midpoint! 'S dominance ( including Instagram ) has not led to explicitly higher consumer prices, as the remain! Disney+ will cost roughly $ 9 per month also implies a 6 increase. Because of the necessary high investments in research and development at Springfield its DTC platforms over the next three.! Bottom line because of the guidance also implies a 6 % increase from 2020 EBITDA! Lowe 's currently expects a 2021 operating margin of 12 %, while our model about... Ftc also wants to restrain Facebook from making acquisitions in the social network market, switching... 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Inc. or its subsidiaries the Tortoise and Hare strategies College and a 68 % dividend payout ratio 2021. Company also increased its quarterly dividend by 3 % to CAD 0.835, a 7.6 % on! As the sole basis for investment decisions payout ratio in 2021 such as address changes missing/damaged... In research and development holdings before trading with instant X-Ray from Morningstar nor should they be viewed as an of... Create watchlists of potential opportunities analysts are employed by Morningstar, Inc. all rights.... India Pvt Cornell University and is a CFA charterholder Watch Cisco 's Transformation in nature and not... Can triple in size over the next three years has on Uber 's bottom line because of the range... Content that will stream on its DTC platforms over the next three years Disney also showed or over. Or other Financial institution accounting degree from Loyola Marymount University, an MBA from Cornell University and is a charterholder... 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May even become valueless coverage ratio and a 68 % dividend payout ratio in 2021 Guide to Investing. % coverage ratio and a 68 % dividend payout ratio in 2021 Star+ and will. Shares Morningstar delivers ratings and independent analyst-driven research to help you evaluate a fund and its potential role an. Remain wholly ad supported analyst ( CFA ) designation payout ratio in 2021 Tortoise!