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Morningstar

Philip Gorham, CFA, FRM

Philip Gorham, CFA, FRM, is a strategist, consumer equity research, for Morningstar.

More From Philip Gorham

The wide-moat firm's sale of its U.S. confectionary business is part of a larger plan of portfolio repositioning.
Philip Gorham, CFA, FRM

We think the acquisition value of the company is on the upswing as a result of the continued rise in the market price of British American Tobacco.
Philip Gorham, CFA, FRM

The firm's wide economic moat in a fairly stable category should make the underlying business more stable than most throughout the turbulence in Brazil.
Philip Gorham, CFA, FRM

We're sticking by our fair value estimate as the firm's results are in line with our thesis of constrained growth.
Philip Gorham, CFA, FRM

We welcome the overdue measures to leverage its wide economic moat and extract more cash from the business, and we think the new financial targets are, for the most part, achievable.
Philip Gorham, CFA, FRM

Disposing of its food business should allow the narrow-moat company to materially enhance its pricing power as a consumer health pure play.
Philip Gorham, CFA, FRM

Despite lower fiscal 2016 growth guidance, we expect medium-term margin expansion at the early life nutrition business to drive high-single-digit organic free cash flow growth over the next five years.
Philip Gorham, CFA, FRM

The pullback in AB InBev’s stock price is a compelling opportunity for long-term investors.
Philip Gorham, CFA, FRM

Anheuser-Busch represents one of the strongest franchises in global consumer staples, with a wide economic moat, and should appeal to long-term investors at today’s price.
Philip Gorham, CFA, FRM

The wide-moat firm offers a modest upside to our fair value estimate, though we recommend waiting for a wider margin of safety before building a position.
Philip Gorham, CFA, FRM

The acquisition gives this wide-moat consumer-product maker additional exposure to premium-priced products, which should round out the price mix of company's household and personal care portfolio.
Philip Gorham, CFA, FRM

More About Philip Gorham

Philip Gorham, CFA, FRM, is a strategist, consumer equity research, for Morningstar Asia Limited, a wholly owned subsidiary of Morningstar, Inc. He relocated to Morningstar's Hong Kong office from Tokyo in November 2020. Gorham leads the equity analysts who cover Greater China equities and are based in Hong Kong, Shenzhen, and Singapore. Gorham continues to cover the European consumer staples sector, spanning beverages, consumer packaged goods, and tobacco products.

Gorham had extensive experience covering the consumer sector in Europe and the United States before moving to Asia in 2017. His most recent role was the director of equity research for Ibbotson Associates Japan, a Morningstar subsidiary

Gorham holds a bachelor's degree in economics from the University of Sunderland and master's degrees in business administration and accounting from the University of North Carolina. He also holds the Chartered Financial Analyst® and Financial Risk Manager® designations.

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