Wide moats keep payment networks safe, but competition rages at the outskirts of the ecosystem.
We think the no-moat company will struggle as it moves into even more competitive markets, and shares look overpriced today.
The wide-moat card network was not immune from competitive pressures in 2016, but we think its long-term advantages remain.
We'd like to see the wide-moat company to continue to differentiate its offerings more in a changing competitive environment, writes Morningstar's Jim Sinegal.
We think profitability for the narrow-moat bank will improve over time and think shares are trading at an attractive valuation today.
Fourth-quarter results show signs that the wide-moat bank is managing through the turbulence created by its sales scandals.
The narrow-moat bank had another solid quarter, but the post-election rally has left shares looking pricey.
We’re modestly raising our fair value estimate for the bank and see cost cutting and capital return as the key to further upside.
As consumer spending around the world grows and digital methods continue to take share from cash, this wide-moat company should continue to flourish for years to come.
Investors' attentions are often focused on Fed actions, missing the larger picture.
The wide-moat bank's modest decline in growth will reverse as media attention falls, Wells Fargo resumes normal marketing efforts, and new sales incentive programs are put into place.
Undervalued Citigroup, Wells Fargo, BlackRock and T. Rowe Price present opportunity today.
Although service revenue expanded by 16% during the year, the no-moat point-of-sale hardware manufacturer faces headwinds.
We still expect the federal-funds rate to reach just 2.25% by 2020.
We maintain our fair value estimate of $104 for wide-moat Visa.
We think the company still has work to do in adapting its strategy for a changing payment environment.
We view the bank as undervalued as cost-cutting efforts continue to pay off.
Despite scandal and departure of CEO, we are maintaining our fair value estimate and the bank's wide-moat rating.
The company's third-quarter return on tangible common equity is in line with our long-term expectations, and our fair value estimate stands.
The wide-moat bank’s convenient branch network and otherwise healthy customer satisfaction should result in business stability.
The narrow-moat bank's stock is attractively valued.
We don’t excuse the behavior, but we still think the bank has done well for shareholders and customers overall.
Its turnaround plan is proceeding quietly but effectively.
We aren’t reading too much into Wells’ slight pause in earnings growth.
Citi shares look attractive as the bank’s results demonstrated its long-term earnings potential.
The banking giant’s second-quarter results underscore that concerns over everything from Brexit to credit deterioration are a bit overblown, writes Morningstar’s Jim Sinegal.
But Morningstar's fair value estimates for Visa and MasterCard are unchanged.
Global macroeconomic weakness has taken a toll, but the long-term outlook remains bright.
We think investors are overlooking the transformation Citi has made since the financial crisis, writes Morningstar’s Jim Sinegal.
Growing loan demand is encouraging for Wells and the banking industry as a whole, says Morningstar's Jim Sinegal.
Market-related revenue declines are likely temporary, but most noninterest expense reductions will be permanent, says Morningstar's Jim Sinegal.
Generally overblown fears of energy-related credit losses, global deflation, and potential interbank contagion are increasingly weighing on the sector.
Though capital worries are clearly affecting some global banks, insolvency fears are exaggerated from both a fundamental and practical perspective in the U.S., writes Morningstar’s Jim Sinegal.
John Stumpf has successfully steered Wells Fargo through a very difficult industry period and built up the bank's strength while many of its peers languished.
We think the pessimism regarding the large U.S. banks is overdone.
Despite headwinds, we think management understands the changing dynamics in the payment space well and are sticking with our fair value estimate, writes Morningstar’s Jim Sinegal.
Despite headwinds, we think Citi is quite cheap at current levels, even if earnings significantly deteriorate from here, writes Morningstar's Jim Sinegal.
We were encouraged by loan growth across numerous categories, both business and consumer.
Market volatility and the commodity meltdown are manageable for the banking giant, says Morningstar's Jim Sinegal.
The move is strategically beneficial, but the cost of the acquisition offsets this in terms of shareholder value.
Results were in line with our long-term expectations, but they were marred by the volatility inherent in certain capital markets businesses and continued legal expenses, writes Morningstar's Jim Sinegal.
A strong brand, expanding network, and close relationships should drive healthy earnings growth.
It has a head start in an increasingly competitive electronic payment market.
The banking giant is finally back on the offensive, but we're maintaining our current fair value estimate and moat rating, says Morningstar's Jim Sinegal.
Although the bank is still suffering the effects of low interest rates, a boost in credit demand and signs that rates are heading higher bode well for the firm.