What’s covered in an analyst report?
Can you explain the different sections in the analyst report?
How often are reports published?
How can investors better understand Morningstar’s equity ratings?
Morningstar believes appreciation beyond a fair risk-adjusted return is likely.
Morningstar believes that investors are likely to receive a fair risk-adjusted return, approximately the cost of equity.
Morningstar believes investors are likely to receive a less than fair risk-adjusted return and should consider directing capital elsewhere.
Indicates a high probability of undesirable risk-adjusted returns from the current market price over a multi-year time frame, based on our analysis. Scenario analysis by our analysts indicates that the market is pricing in an excessively optimistic outlook, limiting upside potential and leaving the investor exposed to capital loss.