In the past week, Morningstar's independent team of investment analysts has published new and updated research reports on five UK companies, 11 funds for sale in the UK, four European ETFs and one investment trust. Below are excerpts from some of these new reports; click on a name to read the full analyst report. Ratings were correct as at June 1, 2012. See all the latest Morningstar research here.
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UK Shares
De La Rue
Morningstar Rating: 2 Stars
Morningstar analyst Brett Horn says: "De La Rue's preliminary fiscal 2012 results showed the company continues to bounce back. While the company finished the year a bit ahead of our projections, we remain comfrotable with our fair value estimates."
Diageo
Morningstar Rating: 3 Stars
Morningstar analyst Thomas Mullarkey says: "Diageo has agreed to purchase Brazil's leading premium cachaca brand, Ypioca, for £300 million. We believe this premium positioning should benefit Diageo over the longer term as the average income in Brazil continues to climb."
Prudential
Morningstar Rating: 3 Stars
Morningstar analyst Vincent Lui says: "We think the SRLC America Holding Corp. transaction should have only a modest impact on our fair value estimate, if any."
Royal Bank of Scotland
Morningstar Rating: 4 Stars
Morningstar analyst Erin Davis says: "We are lowering our fair value estimate to 30p as we reduce near-term efficiency and net income margin projections."
SABMiller
Morningstar Rating: 2 Stars
Morningstar analyst Thomas Mullarkey says: "We are increasing our fair value estimate to 2,350p. The company has been successfully growing its beer business in emerging markets, and we believe that SABMiller will be successful in obtaining its cost synergies related to the Fosters acquisition and Efes strategic alliance."
Wolseley
Morningstar Rating: 3 Stars
Morningstar analyst Paul Choi says: "Wolseley reported third-quarter results that came in line with our estimates and we're leaving our fair value estimate unchanged."
OEICs/Unit Trusts
JPM Global Capital Preservation
Morningstar OBSR Analyst Rating: Neutral
Morningstar OBSR analyst Richard Whitehall says: "The fund has recently changed its investment process in light of disappointing performance and we wait to be convinced as to whether the changes will have the required effect."
Schroder UK Alpha Plus
Morningstar OBSR Analyst Rating: Gold
Morningstar analyst Emma O'Neill says: "Schroder UK Alpha Plus is one of the best UK equity funds around, but investors should be prepared to accept short-term volatilty.
Skandia Global Best Ideas
Morningstar OBSR Analyst Rating: Bronze
Morningstar OBSR analyst Richard Whitehall says: "This fund will not suit all investors, but we believe it is a good option for investors with a high level of risk tolerance."
Investment Trusts
Dunedin Income Growth
Morningstar Rating: Bronze
Morningstar analyst Jackie Beard says: "We think shareholders are benefiting from a new manager. The sound management and proven depth of expertise give us confidence."
ETFs
iShares EURO STOXX Select Dividend 30
Morningstar Rating: 2 Stars
Morningstar analyst Gordon Rose says: "Given the underlying index's well-diversified exposure across countries and sectors, this ETF may be best deployed as a core holding."
See all the latest Morningstar research here.