Demand is likely to cool, but we expect construction will start to rebound in 2024.
Firms must adapt to secular and cyclical headwinds.
These companies largely earn their competitive advantage from intangible assets and their stocks are great choices for an investor’s watchlist.
What drives these firms’ competitive advantages varies by industry.
We've lowered our near-term forecasts, but the pendulum could quickly swing back to oversupply.
What's it like to hold crypto as an investment?
War has changed cigarette manufacturers' strategy, but we think the valuation impact is exaggerated.
Despite near-term uncertainty, there are many reasons to be optimistic about long-term demand.
Russia will get its oil to the global market, whether or not it invades Ukraine.
Shipping bottlenecks could drag on into the second half of the year.
What Morningstar's analyst thinks of D.R. Horton, Lennar, and Toll Brothers today.
Our bearish calls on drugs from AbbVie and Pfizer put downside pressure on the firms' valuations.
We think the COVID-19 treatment market will have more longevity.
We've raised our global consumption forecast for 2022, but our 2023 outlook is unchanged.
Here's what we're watching for during earnings season -- and our top picks in the industry today.
We believe current trading prices offer little opportunity among the pure-play grocers we cover.
We think their excess returns on invested capital will endure, thanks in part to switching costs.
Our top pick among the state's utilities offers a strong combination of value, growth, and yield.
Reports of the death of oil have been greatly exaggerated.
In this labor market update, we outline how we expect the factors contributing to the unusually high number of job openings to fade over the next year.
Idexx and Zoetis have profited from pandemic pets, but their valuations remain high.
Continued pandemic fears have mispriced the risk in Delta and Southwest.
Our top two picks in this wide-moat industry are poised to benefit.
Cost and performance parity will drive consumer interest.
How we expect spending at Zoom, Microsoft, Slack, and more to evolve in a post-COVID-19 world.
Fashion retailers are still experiencing delayed deliveries amid increasing online shopping.
These companies have underperformed the industry, but we see years of solid growth ahead.
Wind and solar generation will drive the U.S. economy's decarbonization plan.
Podcasts, connected TVs, and e-commerce platforms will help grow digital ad spending.
We don't think so. In fact, we think driver demographics bode well for auto sales.
Despite the massive disruption, we still see opportunities across some affected sectors.
Growth is priced into most valuations, but the top advertisers still have our attention.
Expanded insurance rolls would be good news for the managed-care organizations and service providers we cover.
A look at the firms that offer long-term growth upside.
Hopes for eradication fade, further highlighting the benefits of vaccination and boosters.
As we incorporate ESG factors into our analysis, we see a manageable headwind.
They may have a sunny outlook, but they trade above what we think they're worth.
It's close, but some industries are still recovering.
Moats and management make the difference.
We think the worst of the damage was in the second quarter.
Once the vehicle shortage is resolved, inflation should be back on trend.
Interest rates will be one of the biggest drivers and the biggest question that investors need to think about when they’re considering investing.
The market is warm to the idea, but we don't see a meaningful long-term impact for companies in this space.
Firms may face headwinds in U.S. sales, but our fair value estimates haven't budged.
We focus on quality companies in an environment where investors are engaging in rank speculation.
Institutions and students bear the brunt, but opportunities are considerable.
Capital returns are coming back, but don't forget about valuations.
The market’s optimistic valuation for Airbnb is tough to accommodate.
But investors can still find value in U.S. cannabis stocks.
Innovations in spinal cord stimulation bolster moats at Medtronic, Boston Scientific, and Abbott.