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.
Europe leads the way in combining fixed-line and wireless telephony, broadband, and pay TV.
Containers, coal, crude, and codes are investors' current concerns.
Regulators' likely demands on the Ball-Rexam deal would undermine industry economics.
The latest Open Internet Order won't magically level the playing field.
Winding down Fannie and Freddie would be the biggest change to the financial system in half a century, and some banks are better positioned to succeed.
Next-generation point-solution providers lead the pack, but legacy vendors could turn to M&A to catch up in analytics.
Cost advantages and network effects work in their favor.
Technological adaptation and moderating revenue growth will characterize the next stage for Indian IT services firms.
Many of these misunderstood firms are currently undervalued.
Oil prices are likely to rebound from here, but robust U.S. supply will ultimately cap upside.
Examining the impact of abundant low-cost supply--and uncertainty in global oil markets--on the domestic natural gas complex.
Consulting offers the most advantage in this huge, fragmented market.
We see attractive growth opportunities for the ophthalmology market.
Short-term headwinds portend an ugly 2015 for U.S. steelmakers, but stock prices imply overly bearish long-term expectations.
Morningstar's Dan Werner and Jim Sinegal see a move toward digital and direct channels.
The private exchange business could widen Aon's and Marsh's moats.
Private exchanges could offer growth catalysts but face challenges, writes Morningstar's Vincent Lui in Part 1 of a series.
We think it will hold up well against the threats of challenger banks and digital banking.
The faltering Chinese real estate market hit iron ore first. Copper is next.
Valuations are rich, but sector finances and growth are super strong.
After being stuck on the runway for more than two years, demand is looking up.
A windfall to Baker Hughes' shareholders, the deal should create a formidable force in oil services.
Expansion into underpenetrated markets could increase brand awareness and pricing.