McMillan Shakespeare Ltd

MMS: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$41.00	Mxlsr	Knvskzty

McMillan Shakespeare's FVE Increases on Improved Growth Prospects, but Growth Already Priced In

Nov 28, 2017

Increased confidence in the growth prospects of no-moat McMillan Shakespeare’s core high-margin group remuneration services, or GRS, salary packaging and novated leasing business has prompted us to upgrade our fair value estimate to AUD 14.00 per share from AUD 13.00. However, this growth appears to be currently priced in, and shares still screen as overvalued at present.

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