Defense spending is due to increase regardless of which party is in the White House, but the stocks of most contractors already look pricey.
The reasonably priced merger will create an analog powerhouse.
Reforms are finally coming, but at a stiff price.
But Morningstar's fair value estimates for Visa and MasterCard are unchanged.
Recent developments strengthen our belief in the viability of the television bundle.
There's much to consider, but it's not all bad news.
New research lends greater insights into how utilities gain and hold their competitive advantages.
Morningstar analyst Michael Wong examines the impact on the financial sector.
Demand is decelerating but still robust.
We think the potential losses are manageable for most of the U.S., Canadian, and European banks we cover.
Temporary tightness should abate as demand falters and supply surges.
The asset swap with Ambev should be beneficial to moats and margins.
No, says analyst Bridget Weishaar, but it will look much different in the future.
One consequence of near-term rate stabilization is the need for banks to cut operational costs in order to increase earnings.
Markel's 'mini-Berkshire' premium is unwarranted, and W.R. Berkley is a better choice.
For now, the rule is likely to be an underappreciated consumer protection.
The Bank of England's new countercyclical capital buffer shouldn't affect valuations, however.
We think the demise of the diesel engine may be inevitable, but it is definitely not imminent.
Here are 10 predictions for the next 10 years.
Valuations look full, as chains such as McDonald's realize turnaround efforts. But good deals are still on the menu.
Acquisitions and new product categories should bolster long-term sales growth.
We're cutting our iron ore and met coal price forecasts as the long-term demand outlook weakens.
After seeing their latest offerings, we're maintaining our outlook for both toy makers.
The DoD's latest budget request is broadly positive for our defense coverage.
Declining prices make commodity producers look cheap, but Morningstar analysts believe there is more downside.
We see investment opportunities in the highest-quality stocks.
We see long-term opportunities developing in some of our wide-moat companies.
Even after their shares have traded down, we see little upside.
Near-term headwinds hide attractive aerospace growth prospects.
We think the pessimism regarding the large U.S. banks is overdone.
Our wide moat ratings are intact for all six railroads, however.
We think Telefonica Brasil is positioned best for success.
It could eventually be a disruptive technology, but it has some barriers to clear first.
Emerging from a third-quarter pullback, healthcare companies are preparing for the next phase of the Affordable Care Act.
The stage is still set for a long-term recovery, but near-term risk is elevated.
There are still operators with solid balance sheets, strong distribution coverage, and low costs of capital.
The long term still matters more than the short term to our valuations.
U.S. firms hold greater dividend safety, better assets, and more attractive valuations than their European counterparts.
The metal has one of the best growth profiles of the commodities that we cover.
With challenging industry fundamentals, investors will need to play defense.
Take advantage of near-term volatility to capitalize on long-term opportunity.
A reduction in our long-term steel price forecast has an outsize effect on more-leveraged firms.
All signs point to a brutal near term but a meaningful long-term recovery.
Despite low fuel prices pointing toward the contrary, railroads' competitive advantages remain strong against transportation rivals.
The business model is fantastic, but the industry isn't risk-free, and interest rate sensitivity could hurt.
The difference between traditional and alternative managers affects how we treat them in a downturn.
Morningstar's Rich Hilgert has already factored in lower demand, and his valuations are unchanged.
Why the country's market rout matters and why it doesn't.
Overreaction to subscriber losses provides a buying opportunity for some wide-moat names.
We think Nucor and Commercial Metals are undervalued.