At the midway point of 2019, the Morningstar U.S. Market Index is up 18.88%. The median stock in our global coverage universe trades at a modest 4% discount to our fair value estimate.
However, the share of 4- or 5-star stocks surpasses those rated 1 or 2 stars: 30% versus 25%, observes Dan Rohr, Morningstar’s of equity research for North America, in his quarter-end wrap-up.
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Susan Dziubinski does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.