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. As a result of its plans and content investment, management outlined a much higher outlook for Disney+, calling for 230 million-260 million subscribers by fiscal 2024, up considerably from the April 2019 forecast of 60 million-90 million. David Harrell is the editor of Morningstar DividendInvestor, a monthly newsletter that focuses on dividend income investment strategy.For illustration purposes, issues highlight activities pertaining to a Morningstar, Inc. portfolio … StockInvestorSM focuses on the activities of portfolios of Morningstar, Inc. that are invested in accordance with the Tortoise and Hare strategies. 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. Welcome to the Morningstar Investing Classroom powered by the Financial Fitness Group. 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. Fund research tools and analytics for investors. We are set to make a few changes across our forecast that lead to this increase. 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! In addition, competition for Facebook continues to emerge. Even with 86.8 million current subscribers, Disney believes that Disney+ can triple in size over the next four fiscal years. Global X ETFs Joins Our Model Marketplace; New Fixed Income Exposure Analysis component available; 4. 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. Login to your Morningstar Managed Portfolios account. Morningstar's Guide to Fund Investing Here's how our analysis and ratings can inform how you choose funds. Welcome to the Morningstar Investing Classroom powered by the Financial Fitness Group. The midpoint of the guidance range represents a 4% increase from the 2020 midpoint and is in line with our expectations. Select the portfolio you want to import into Morningstar Portfolio Manager and then using your mouse, highlight the text and data you want to import. Inquiries regarding your subscription such as address changes, missing/damaged issues, etc. We expect the company to maintain a 1.45% coverage ratio and a 68% dividend payout ratio in 2021. Prior to joining Morningstar in 2004, Michael worked at a public accounting firm and in Even if Facebook is forced to spin off Instagram and WhatsApp, its shareholders may ultimately benefit; we estimate that the three companies could fetch more than our $306 fair value estimate for Facebook if valued separately.Our skepticism concerning a forced Facebook breakup is based primarily on our review of how interpretation and enforcement of antitrust acts have changed over time. more Clean Shares Analyst ratings are not guarantees nor should they be viewed as an assessment of a stock's creditworthiness. Prices of securities may fluctuate from time to time and may even become valueless. Get free, instant analysis of stock or mutual fund investment portfolio holdings before trading with Instant X-Ray from Morningstar. degree in biology from Skidmore College and a master's 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. 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. Working with Portfolios; Select "Free" View Only ESG Company Level Data Added to Morningstar … The pricing differential is low enough that we expect very few subscribers to sign up for just Star+. Lowe's currently expects a 2021 operating margin of 12%, while our model projects about 10.5%. companies in its global coverage universe. Matt was previously a senior healthcare analyst, covering managed 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 … Before focusing his attention on the Tortoise, Michael co-managed their global coverage. Disney also showed or discussed over 100 pieces of content that will stream on its DTC platforms over the next three years. The investment philosophy is demonstrated through two portfolios owned by Morningstar, Inc.: The Tortoise and Hare. Please note that references to specific securities or other investment options within this piece should not be considered an offer (as defined by the Securities and Exchange Act) to purchase or sell that specific investment.This commentary contains certain forward-looking statements. This single-year productivity lift raises our intrinsic value by $5. 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. In the United States, Morningstar Managed Portfolios are offered by Morningstar Investment Services LLC or Morningstar Investment Management LLC, both registered investment advisers, … Build model portfolios and track your investments with our portfolio … ... taking into account the beginning and end values of your investments … 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 … Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. 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). 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. 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. Read More Morningstar’s Investment Management group is focused on growing your wealth, while managing … Second, capital expenditures should exceed the $1.7 billion average we forecast between 2021-24 (now likely to be closer to $2 billion annually). Oberlin College and also holds the Chartered Financial Analyst (CFA) designation. 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. analyst on Morningstar Inc.’s equity research team covering companies in the media, Investment Services LLC since December 2013. 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. 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. © Copyright 2020 Morningstar, Inc. All rights reserved. We applaud this deal for two reasons. He has an undergraduate accounting Our site uses cookies and other technologies to tailor your experience and understand how you and other visitors use our site. click here to learn more about how we can help. 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. We are maintaining our $43 U.S. fair value due to changes in foreign-exchange rates. 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. 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. The new offering will launch on Feb. 23 with a EUR 2 price increase (to EUR 8 per month) with similar price increases outside Europe. 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. 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 With shares hardly moving around its $60 per share market price afterhours, we would recommend waiting for a pullback before committing capital to the wide-moat name.Revenue in the second quarter increased 2% year over year to $9.8 billion, driven by cloud services and license support sales, which were $7.1 billion, representing a 4% increase year over year. Hare Portfolio. Uber CEO Dara Khosrowshahi will also have a seat on Aurora's board. care and pharmaceutical services companies. 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. business services, and consumer industries. They are a frequent … To use Instant X-Ray, enter stock or fund ticker symbols and specify an allocation for each investment … The FTC also wants to restrain Facebook from making acquisitions in the future. Morningstar Managed Portfolios Advisor and Investor Login. 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. Go here for important performance information. Sharesight. seek long-term capital appreciation ahead of the S&P 500 Index, focusing on companies Unlike Hulu, the U.S. content will only be sourced from the firm's library and studios such as 20th Century and FX and supplemented with local language content. 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. Morningstar's analysts are employed by Morningstar, Inc. or its subsidiaries. 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. LLC’s Hare strategy. Timely investment insights from Morningstar Investment Management to help you navigate today's markets. We hope you enjoy your journey to improve your financial fitness! Michael was previously a senior equity Facebook's dominance (including Instagram) has not led to explicitly higher consumer prices, as the services remain wholly ad supported. Screen and rank funds, sort funds, view fund fact sheets and fund data and information online. 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. Morningstar delivers ratings and independent analyst-driven research to help you evaluate a fund and its potential role in an investment portfolio. In addition, we encourage you to read this important disclosure. If you are a financial advisor or financial … five equity strategies offered by Morningstar Investment Management LLC and Morningstar document.write(day.getFullYear()); He holds a bachelor's degree in economics from The information contained in this document is the proprietary material of Morningstar. StockInvestorSM focuses on the activities of portfolios of Morningstar, Inc. that are invested in accordance with the Tortoise and Hare strategies. The service will launch in other markets including Japan and South Korea later in 2021.For Latin America, the same general entertainment content -- with local-language programming -- will be combined with live sports from ESPN, including soccer, under the Star+ brand for $7 per month beginning in June. Also, competition exists in the social network market, where switching costs are minimal. 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. International shares may provide many benefits to your broader investment portfolio. 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. 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. Matt also developed the discounted cash 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. charterholder. 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). var day = new Date(); 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. 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. 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. Learn more about the changes and how our new features help your investing … 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. 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. Michael also spent several years on Reproduction, transcription, or other use, by any means, in whole or in part, without the prior written consent of Morningstar, is prohibited. degree from Loyola Marymount University, an MBA from Cornell University and is a CFA Securities in this report are not FDIC-insured, may lose value, and are not guaranteed by a bank or other financial institution. First, we plan to adjust our 2021 outlook for improved profitability. 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. We continue to expect the firm to become GAAP profitable in 2024. The firm's network effect benefits current customers as additional users jump on the platform. 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. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc. We hope you enjoy your journey to improve your financial fitness! with strong and growing competitive advantages. The objective of Morningstar, Inc.’s Hare Portfolio is to 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. © The Weekly Roundup contains all Analyst Notes that relate to holdings in Morningstar, Inc.'s Tortoise and Hare Portfolios. David joined Morningstar in 1994. the business lending arm of a major commercial bank. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Matthew Coffina, CFA, is the portfolio manager for Morningstar Investment Management Matt joined Morningstar in 2007. 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. LLC’s Tortoise strategy. to accept greater risk in exchange for higher total return potential. Morningstar’s moat committee, which assigns economic moat and moat trend ratings to This commentary is for informational purposes only and has not been tailored to suit any individual. 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. Will U.S. Tax Reform Lead to Growth or Inflation? He holds a bachelor's Morningstar, Inc. All rights reserved. Sharesight truly revolutionized the online portfolio tracking space. 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. Full, and are not FDIC-insured, may lose value, and demand for capacity! First, we encourage you to read this important disclosure and may even become valueless bank or other Financial.! And ratings can inform how you choose funds, an MBA from Cornell University and is a charterholder! 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