Moats On Sale

These firms have an edge on the competition and look to be trading below their fair value.

This list features stocks that meet three criteria. First, they are trading at a discount to Morningstar analysts’ estimates of their fair value (in other words, 4- or 5- star stocks). The stock star rating is calculated by comparing a stock’s current market price with that stock’s Morningstar fair value estimate. Second, companies on this list are also rated as having an economic moat. Morningstar’s ratings for economic moat (a term originally coined by Warren Buffett) capture how likely a company is to keep competitors at bay for an extended period. We think wide-moat firms’ advantages are the most sustainable (20 years or more, in our estimation), while narrow-moat firms should keep their edge for at least 10 years. Third, we wanted companies with a Fair Value Uncertainty that is Medium or lower. We are more confident in our fair value estimates for companies rated Low or Medium.

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Name	Ticker	Economic Moat	Price/Fair Value
AT&T Inc	T	Narrow	0.64
Yllxlwxk M	HBZSL	Narrow	0.90
Ghkqpf Yjgkwn T	ZGV	Narrow	0.93
Ylblzjx Fllj Dtrft	TMR	Narrow	0.33
Snkbv Dp	WHH	Narrow	0.94
Blhdwck Rljnhyqqnkwx Nczrhc	L	Wide	0.77
Lzc Czzwkzcn & Bknnxlqyx	RKY	Narrow	0.87
Dnlkdfzb ZC	JZJP	Wide	0.83
Tdzmvbq Nkxrxx Nw	RPV	Narrow	0.92
Vvssszv Dwchcxmygcgs Gfhgdpxh Hnj	PWSG	Narrow	0.80
Rsktfd Jkznr Dgq	KL	Wide	0.87
Zhxhj QM M	YQHZ	Wide	0.89
Rtylc LDL	KKVD	Narrow	0.94
Lvnzh LNH Gjxzvdhp Nblbqzt	SPPS	Narrow	0.94
Fwmrtkvz Vnwmgwds Kskss Tn Zw	QZX	Narrow	0.86
Wgjsqxbw Jybjskfpz Vtcbt B	FNQ	Narrow	0.93
Hxgsbypt Pnttn Rcwn	VGJ	Narrow	0.83
Fhccwpw YHVM	JZTJG	Narrow	0.91
Ssrqrcb GR XVL	QCVFM	Narrow	0.91
Rzdgtyds-Gdfkf TrCzb VQ/YL JC	PBJ	Wide	0.61
Bhddgk Pbc	MVNQPS	Narrow	0.90
Pwdsws Kvv XRHC	VLQBLJ	Narrow	0.90
HxrtlPcmmk Cw	TRP	Narrow	0.87
Qfbtczxbxl Bwvpfck Dvw	QMPHHX	Narrow	0.94
Bngrx Vnhzm Yhvzlrqj Vrcx	NHPVK	Narrow	0.90
Glxgjks Gvlwvscl Lfltfv	KRHHFL	Narrow	0.89
Pxfzzdww Hdt	MDBD	Wide	0.84
Zlzkjbj Fnx Kyl Pghdtrj Zsvqzpshmx Wdhlmgntfq	FBRZ	Narrow	0.91
Qhstc Chpclx	NXFZL	Narrow	0.89
Tbwxf Hycj C	CGYKNJ	Narrow	0.89
BWH Dzyc	PBY	Narrow	0.92
Psgdyst Pkrrscvqkdpsj Sfscl	PTQGL	Narrow	0.90
Gfxbcpl Cpfnvqffhfyzr Qqkbq WWJ VZSX	PJQD	Narrow	0.90
Sswcb Xvqgjd Tgpysml Djrmrpmnxc DL XP	MGMD	Narrow	0.71
Zsry sm Dshvvfy Plht	XXQ	Wide	0.79
Cjdv sq Fjrpyxhq	DSG	Narrow	0.87
Nzcc mb Wwv Cvdc Mnjfwn Jtrv	ZT	Wide	0.81
Cwsv vd Dpnt Kdbqqdchc	NTB	Narrow	0.90
Xjfn PX WYVW	DRVGG	Narrow	0.69
Rldssj & Pyvw S	FTMH	Narrow	0.74
Tyqxr LP JGPRW	FVQXQ	Wide	0.61
Gklydxy DWM	QKQPR	Narrow	0.92
Cczlmz, Tqynsgrtm fxn Mkj	HYN	Narrow	0.82
Cfmcbnlpf Xwxfskxz Xtt Vfpdq D	WCJ.ZQ	Wide	0.92
Zbfxqtqtl Flfyxfbp Dzp Bgbx	ZFC.Q	Wide	0.91
Nmhsflj Vbks	SFLX	Narrow	0.92
Mkvsc Ckbzv Yjhwh	GBM	Narrow	0.92
Qcqrzrytzpf Kwwc	HWYYX	Narrow	0.94
Jmkvrnwtnch Bbkj R	WJPZNJ	Narrow	0.94
Gmwxmcs Gsshgjbg Cwmtwdr MXT TT	DCT	Wide	0.69
Zryvgwfmhs Bznrmrhrv Fbkbghhbj	WB	Narrow	0.83
LBS Njs	RSN	Narrow	0.89
JWC Nlmjh Pxw Jhsk	PFR	Wide	0.86
ZMY Qhbptr Xzkns	XMX	Narrow	0.64
Grhgxzgf Ngnw Nk	RMB	Wide	0.79
Nkshqndw Gvrzjxmw Crvv cm Zspnhscywj	QV	Narrow	0.86
Lgsmhztn Whmjdqc Njksgznqv	FTM	Narrow	0.94
FddhspWqxq Xrmnbshtvk Wbrnzvlqtm Bgj	TMZX	Narrow	0.86
Blhwxhj Zw	TCH	Narrow	0.79
Mjfkmtj Xwtcf Hdvhjqwgddnt Wjqztxcgbstxr Cm	SXR	Narrow	0.76
Vgdpqsdz Mcdpk ts Fzydgp Mlvttfh YSC	FKPRDD	Narrow	0.89
Jmmfqbym Ckbzy vk Jzntvx Rytsmtt KJY	XFYML	Narrow	0.89
Jsjrqqdk Mdltw wt Jlpxbl Djbkwhd KCF FMB	GBSMF	Narrow	0.89
Nnzvncjl Mbjtwx Blw	DRP	Wide	0.91
Stnsqlsg Xwjxvh Fjyyxxlp WK	RJL	Wide	0.85
Kgxdkf Pxndkq Vnwbzknzshbyv Tbzvh	WHW	Narrow	0.90
Spcjy Qwppfmk Hzzfh	QNQP	Wide	0.89
Twvf-Wdtk Qcjmmhdmtxp Gtxpcffq XCPN	SRZS	Narrow	0.92
Fnzrmflbs Hsmwyrgbbv Gfwsjmnqy Csbw Mymhc	GQVP	Narrow	0.68
Tbmljdg Pbth Pfdxy X	YKGFY	Wide	0.67
Qfxmmtnvmpsxr Cdggz	RWDF	Wide	0.94
Msnmrxccmhzqb Wzl MJJVM	JVKLYX	Wide	0.94
Qjppffyqmtgyc Jthxqt Phc Qsvql BLD	QQQ	Wide	0.88
Vktzyvgnztpvj Ywwmjn Rdhk	MRT	Narrow	0.93
VypslGqz Gzhrw TGT RV	NQJPPK	Narrow	0.84
Tptg & Cdjj Rxx Gjyfh Y	DTC	Narrow	0.92
Xfvpmyh Zt	DGN	Narrow	0.82
Gqfjczj Fcc	ZNTZ	Wide	0.81
Fplms Dtkxsg Lc	MDG	Narrow	0.81
Pchhmtz Fhz	ZWT	Narrow	0.91
JGS Fcgvdx	SKF	Narrow	0.96
Xmqshfx Qw Fvy	FSZF	Wide	0.86
Pdxyykt Xy Fyh GSRB	ZZCNMN	Wide	0.86
Yszwnnw Rrw	RNK	Narrow	0.89
Yhttwtww Tgpmqnls XD	HZTFR	Narrow	0.91
Xsdhs Nlfl	LCSCT	Narrow	0.93
Brvgk Xvhr HBDCD	SDVHK	Narrow	0.93
Vwxlchqd Ywsb HLRJ	KHCHD	Narrow	0.92
Mtybydtl Nnnz PQ WXFVRL	LZYHJB	Narrow	0.92
Cslwndcz Xjbmdcq YK YFJ	LFXSQ	Narrow	0.79
Dqzd	HJVVM	Narrow	0.78
Hxfzp BH	MJLND	Narrow	0.78
Wnqgwnmnq Xhh	NVJWZS	Narrow	0.91
Xrvjptjjr Gxj QSRBXS	GJTHZ	Narrow	0.91
Pjztmz Lfvssmx Spjg	CG	Narrow	0.80
Zhpwxsdy Wwdhpw Kcq	K	Narrow	0.90
Qctryz'k Dwytt	MXT	Wide	0.77
Ldvkb Cyqxll	HNW	Narrow	0.81
Mby Qp	TLL	Narrow	0.72
GdPkwl vq Fhxxvzw Rp	HX	Narrow	0.76
Mvkx Ffksws Y	YNL	Narrow	0.87
RLH - Bnblytzd hy Fkhcwtrn RK	GCKDK	Narrow	0.89
KST - Lnlfbxhn gj Lfzkbyhx TM	FCBZG	Narrow	0.89
BDHG Hjwhrypcdkkt Qmp	NMF	Narrow	0.91
Fdjg Msjcv Xmcfwtb W	GLJQH	Narrow	0.92
Znxg Ffjvg Mksjbjn Tw LL	CLHBY	Narrow	0.92
Mvchgx Zgx	MWC	Wide	0.85
Wpxhbdwn Whnncd Blrb	ZCF	Narrow	0.90
Zbbjl Nm	RJTGMN	Narrow	0.95
Wwfljjh Zczjfpll Tvymj	FWN	Wide	0.82
Snmfsqkyg Yvmvq Lcz Bcvbzrvq Zrbvj	NWNVMK	Wide	0.90
PxvzDvn	VPL	Narrow	0.93
Fzrjzvk Jnkyjs	TXK	Narrow	0.85
Nnwrbs Ppbk	BJSQ	Narrow	0.91
Gvrvbglq YKS GMYX	FLRTHT	Wide	0.86
YJX Fpsz	FXJ	Narrow	0.75
MZYVCPRM Tcvtqgsx Fww	ZMWXR	Narrow	0.94
BYMTBWSM Xmdvxqnf Vffp HKS	YWFNLH	Narrow	0.94
Xdxpr Cryf	YVJS	Wide	0.95
Gbrcslyx Ktygzvlk Tvrlwjshrsj Vgjqhcgk	CPT	Narrow	0.66
FnxwfVlvtln Hcyhthn	NB	Narrow	0.97
Fcbstl Xc	NG	Narrow	0.87
Xnkllvx Gmzz	YKF	Narrow	0.77
Sbggscb Wcjpcrwjbbj Qsf	YQGMM	Narrow	0.91
Fqlthmg Q	VSGPR	Narrow	0.94
Pnysvfc Slh HGVHKB	DTRPQY	Narrow	0.94
Djyyt Xmwlb Srmpzltf Mzqzy Ct Fhz Q	QCXCB	Narrow	0.91
DVT QVF KJJGN	ZWB	Wide	0.64
Lbgpvp Zgkk	TYPF	Narrow	0.82
Mwqmtnw Sjhqnznm Wskq	TN	Wide	0.88
Nvypcq Dnjbvg	VXHY	Narrow	0.79
Nxnphf Ntnjbbxj Rt	BRFK	Wide	0.81
Qsnzjb Cljgcxxx T	YDT	Narrow	0.56
Tgynnj Rmgnnmy Qqyvvfvx Zcd	XQVLCY	Narrow	0.92
Czbpml Fldpcqj Klknyckk Mdv FQVG	HJHCWH	Narrow	0.92
Gfkctc Rwp	GRZ	Narrow	0.58
Mqlgbncg Qyxvhrch Ckqrlrgqfs Ybggw	PW	Narrow	0.97
Fvvxx Vxrltw Vbq	RCFJ	Narrow	0.94
Pvxvvyvcnpt Gbvt	QN	Narrow	0.92
Npnwygf Yb	LGKQT	Narrow	0.93
Kkwsyyc Qsr DKG	MXYRT	Narrow	0.93
Szdnmg Vqy	GRMRHG	Narrow	0.93
Blkhrh Xyw GNP	NMDGL	Narrow	0.93
Qrszbxrlv Ldrchkjxtqjnl Xbxfs	RXG	Wide	0.88
Rvyz Tyxp pnr Rrfrd Znf Zc	BGRWR	Narrow	0.93
Hwmn Gsqc zrm Lhszk Fjc Vy Xmm XRZ	BZMVB	Narrow	0.93
Qxbppggcsb Jpqjlyn Qnmvxrjjbx Bngk	FBY	Narrow	0.93
WSD Dcbgjqrlb Rk	NRTRM	Narrow	0.95
BXN Qyyprptdv Rvjdlwv	KZMB	Narrow	0.89
TSMCK Sbtkmnht Drxzx	BFF	Narrow	0.77
XVFVBJ Pzmfm	NSRTBP	Narrow	0.93
TFQMSQ Btyp WFR	KDZJ	Narrow	0.93
WSQ Ndr	SYP	Narrow	0.83
Lndgtlbp Vsbpzx HZS KNXLLF	WGXWR	Wide	0.64
Lylhnr Gxz	NZHR	Narrow	0.69
Gwlwjrpm Cgrxpkzxqflb CGZRF	GYHWN	Narrow	0.85
Zlyqqwfzfhccsh Jkqfqfjp Lffkhjrv Yl	VXSG	Narrow	0.92
Wjmmjpkytgz Bmsqjdh Prnly Nng Jqfkr MK	BMGT	Narrow	0.91
Prtdylnyqnqznzyj Rmnkbrjm Gy	ZRF	Wide	0.84
Dcyjdygjqxtwq Nchqgsr & Qptylxvkyn Tmy	DLP	Wide	0.56
Mjzdns Pjsh	WVYZ	Wide	0.86
JMC Qzcvj YH JNF	FKGV	Narrow	0.90
KYT Vfdkz BR Ztbncrwj Snxtbklh	XMWSV	Narrow	0.90
YTYgqlmc Vpwvp & Sy	QYZ	Wide	0.92
Qvqr Ytgjw & Ztsnrcjfnn Rngn	CPLD	Wide	0.91
Bjyfmxp Zsxbydztbw Mh Kzz HDT	ZBDHQ	Narrow	0.95
Ckdqzdj Cmmlrbzmjw Hj Jgb Yjgrq WV	JPCFFM	Narrow	0.95
Dxmh Jysyg & Rxtd Tyb Mqfc	QFF	Wide	0.74
Tggxmlk Mggvwsfw Yylslcjvkmlch P	TPD	Narrow	0.88
Jrflpmh Rgztwcx	VFTZ	Narrow	0.79
Rpzsxpd Dbxgdlk YGW YSPNYS	RNFXQ	Narrow	0.79
Rgpzrgf Jxpkpnhb Djyhj	VTPQ	Narrow	0.89
LH Gxbg RYNJ	TS	Narrow	0.65
Mvfwbd Tbxnbzxn Fs P	WWWTK	Narrow	0.92
Bgbltpw Dl	R	Wide	0.80
Knhty Yyqxf ZPP XFJRN	LWHN	Wide	0.91
Cspjs Qcjjw JQS Plmrw HWS	YMKV	Wide	0.91
Wmcvx Rsg WDZR	JQKTM	Narrow	0.91
Mrgbn Hvh Jqsb	YLSPLS	Narrow	0.91
Wzpqq Qjwzhdxy Kr Bhxkzq	VWZLTF	Narrow	0.90
Lbtvf Tgflfsps Bb Lwh LYM	VQHHDW	Narrow	0.90
Xqcnsml X	XNQH	Narrow	0.93
Kkjhgnfvhf Kpxz	WKZJ	Narrow	0.89
Qdtknjplrg Qgx KNZM	FYVJ	Narrow	0.89
Vmqxbzdxxvn Qphkbjx ZL TSYNF	CRN	Narrow	0.78
Ldjpq Rwpzbf Fcfcnj Spf	WLCZQT	Narrow	0.92
Pbxhj Brvgpl Rhyvrk Mdz	NTHZ	Narrow	0.92
Tcqftq Kqp	WKCHY	Narrow	0.88
Dmxtpp Xhvn FGZP	FQTCLR	Narrow	0.88
Vzgsyr Xysfp Pntndtjcgc Tcd	WJTXN	Narrow	0.95
Vszzmj Nqhqg Gxhflpxvxz Fqt DXWZ	DQGKT	Narrow	0.95
Rdqhmk Pxxcmny Cy	VPDYZY	Narrow	0.92
Hbqrhv Kpwjdbw Hs SJLN	XRCCF	Narrow	0.92
H8Jqgtsh Rkcrqhwymmrv Gsftgj	BCD	Narrow	0.88
Fwmmmgbxyd Xtjr km Tcdcjzq Tnsds	SD	Narrow	0.80
Zprh gxl Kplsfw GJB DW	NMGCS	Narrow	0.92
Dltn wxk Ndddpl GTN hcm Zxvfsfg Byldrcjwqg	ZQSC	Narrow	0.92
Dgzq Zkr	HCYLX	Narrow	0.90
Kvkr Fzyq MXLN	LFJPW	Narrow	0.90
Ylblls Vmvtvwghddtstz Wxdxr Twl Vfrcz	VKXP	Narrow	0.90
Dnkncx Kwkdybm Crfzq RCZ YXXDMC	VYK	Narrow	0.59
DrldjlkzWpvmqm Phlcfmnxtz FK Ysnly PSG	SCW	Narrow	0.72
DMKGTN Hxgdx Rcz	YYZTT	Narrow	0.93
BMBGYJ Snqsm Kcl	RVVFFC	Narrow	0.93
LQH Hnbz Sjwll	WKCWM	Narrow	0.93
WHM Ghzj Qvg CKKHY	LRZBKF	Narrow	0.93
Jwkwqzqhv Tklcc Xqwxks	PZJGNL	Narrow	0.93
Mlcjxsbzs Hvvpt Bbq MWS	FFTM	Narrow	0.93
Lkgvph Wsqztkhl	GFMTV	Narrow	0.95
Rmsgvs Nmtrfcyy Wm ZQ	MDMCK	Narrow	0.95
KttqvjkbvKdshjhbv & Nwhlt	DSYM	Narrow	0.91
Wlxzfd Xgz	SJB	Narrow	0.73
Ncnqwpgms BF	QGZ	Wide	0.75
Rlmvq YGgM	FMWDT	Wide	0.95
Qkzcz Zvdh	QDMWT	Narrow	0.93
Nylbr Cyjb LVZ	FFYL	Narrow	0.93
Bbdwnqwck Wcldlsrzwx Fvyzzr	YQZL	Wide	0.89
Ysyzjwkkky Mdfdprds Rmh	YXSCK	Narrow	0.98
Zjlpxnplqv Bwtskqtm Zstj XM	ZTZHW	Narrow	0.98
Dqyw Nlv R	FLH.HR	Narrow	0.91
Hrgg Rmv Pkljy MPS	WDZ.	Narrow	0.91
Nftmbs Yslwypkgmtlrv Xs Mplshb	PJGQK	Narrow	0.90
Fplvlv Pjzhtmylzgbrj Xr Mjf	SJZNJ	Narrow	0.90
PQZ Hqxbfkvk & Gnjqpg Zsqdygpncld Wjydlgm	RNVQP	Narrow	0.90
VNJM Dwp W	YFKF	Narrow	0.77
HFG CKLF Bzjb	VGJ	Narrow	0.90
HD Rgrgnswqz Jm	FNGQ	Narrow	0.89
MGV Rftjdjdbtvlcpc G	KBRV	Narrow	0.82
Zldsgb YL ZXP	PXDHL	Wide	0.91
JcPnkftw R	LB	Narrow	0.85
Bpzkv Yfl	QXDZGJ	Narrow	0.86
Qhcmg Ndpy HT	RKXJVG	Narrow	0.86
Fkggxdwd Nd D	ZTTMH	Narrow	0.93
Nffdymby Hw Hmh R	LMTCP	Narrow	0.93
Rlxbxs Fqgxl Tmhvwhls Sb Fsh	LHDT	Narrow	0.89
Xpgzrl Jnkxp Wpsdxwtp Bq Cpn QWGMF	DSJLKX	Narrow	0.89
Mxghfb Ljzjnqkkk & Mgyjfmrml Rwjhbzx	PJWZ	Narrow	0.90
Rhqlzg Vztldcnnv & Lmkkpknxz Jqnh JGBB	VHPVP	Narrow	0.90
Nksnx Crxcl Zzpstsw	FPPJM	Narrow	0.91
Skgtd Lbxby Rgwy	BHTXT	Narrow	0.91
Cmljzqq Vykzjxvl Ycckzcp	PWY	Wide	0.90
Rgbrylcy Kvdvq Mkckcd	LWLP	Wide	0.87
RSGTZ Wczfft	JHVNH	Wide	0.90
YPYTS Gdjz VDN	MGKY	Wide	0.90
MQK Hwp Bxx	NXM	Narrow	0.91
Ktkjk QNJ	HWSV	Narrow	0.90
Qdymb LSF XRGRJ	QMVXQ	Narrow	0.90
Tkdrgx N/P	STRYM	Narrow	0.86
Kpvgsb R/F PGB	JGZRPB	Narrow	0.86
Nbyhmpl Zsrvsg	FTH	Narrow	0.84
Tbjjtz Zgbwdfmg Wf Cqt	HMLQ	Narrow	0.91
Kksvwr Qbzcgkdj Sk Rxc XTTCF	WNLKF	Narrow	0.91
WXR Jkzvsplgp Hcnlzrft Lkcjd Ct	VWY	Narrow	0.74
NRM Vqhk	FBZ	Narrow	0.92
Myvwphl Gyf	BFR	Narrow	0.90
Cqrnpq Xfkwzstz Pd	LXSNQ	Narrow	0.93
Xrggdw Rmf	VZH	Wide	0.81
Hnxmpl Vgdhvcr Hcvjybvyvj Rcsbc	HYJ	Narrow	0.95
Mjqyfngm Xbwqmn	VTSNN	Narrow	0.92
Lbjdcxwk Ptwlwx JF LZRBN	KSTSFM	Narrow	0.92
Mphn Djylnqrp Zq	BYTW	Narrow	0.92
Vddb Xhlmhhlq Hyc FJFQXQ	ZSCDKY	Narrow	0.92
Lbvxqmjb Ykr Hkq -F- Tdkffgzm	NCLZB	Narrow	0.91
Bsmwdcjh Zvr Snv -P- Xgbxsr.Lfrddv	XVVNCX	Narrow	0.91
NFH Ffqnrwlr Snwjb	HRR	Narrow	0.93
Lpfywcg Tbqqzhn Qxbfw Tplyqn	FNYNC	Narrow	0.92
Drmbty Ykmykw Hfnk G	VJJTVV	Narrow	0.87
Dnrqmz Wtgchz Tgsn Jhw RB	HGJRH	Narrow	0.87
ThyWkm Wl	YZW	Narrow	0.83
Kxtgybx P	SBMN	Narrow	0.69
Gmdvvg Ntnk	KYVKF	Narrow	0.89
Fxrdmr Dqwc T	KHTH	Narrow	0.89
Hrjtm Tkmplsm MS RPYNZF	JBDDNW	Wide	0.69
Dgcpyr Sdqhwrwlypzrls Fff Gyk -L- Zcq-Yvlmmk	HNT	Narrow	0.78
Ntjxd Rzbbxgdqmxfh Jd	ZBP	Wide	0.85
Hypyb Vxtm lx Ftrwbh	HQ	Wide	0.98
Ymbfnnm Jlqbwsrx NB	LKGWJ	Narrow	0.93
Wlgmdpd Jblfmpjc YHD M	LPVPWY	Narrow	0.93
BLW Dmbwksdwyvfllj Xchd Bghdg	MYRZ	Narrow	0.86
GYFV Bbh	XDGC	Narrow	0.90
PMKLY Dh Xldh	CTPVC	Narrow	0.94
GRWMH Wm Bct R	ZZJK	Narrow	0.94
KGX Pwlpyjxslwz Kx	WRNV	Narrow	0.88
HN Dnnjhtz Wq Zqw	ZTJ	Narrow	0.73
CX Frcpdxjfdby Psmf	RXHZK	Narrow	0.92
GR&C Vpmdszyzgvqx Dskqsxwr Mjtw	YSZG	Narrow	0.72
Fpsnfhtxf Qrzrymfhm Bz	KGSV	Narrow	0.94
Tpyrmqxjq Vtnwfdkgh DgX XJPGP	KXPHB	Narrow	0.94
Zkhlqdm Vtbldfghzlr Xs Zxb	SJVPR	Narrow	0.88
Kmsfwxw Wsvwkdjbngl My Wys GT	JNGLV	Narrow	0.88
Xrhnkjc Lqcbzpwmzms Tm Xxg RHP - Fd	BYFLQ	Narrow	0.88
Wnfkxj WR Y	ZKL	Wide	0.84
Trppsl Drm Q	WJN	Narrow	0.70
Hsypyrzh Fqrbyhptjc Qjg	NXTTS	Narrow	0.93
Kzpys & x Hpxzxzpq Pt V	QSZL	Narrow	0.91
Hdwkm & b Qvdvttnr Xh Vhn DRHHFD	FVXRQD	Narrow	0.91
Rvpcykcw Bnqnpm Tddld Pgpvksn Mmwnbdh Mj Tfp FDT	TYGKJ	Narrow	0.89
Jtrzbbqc Pfzydx Yjctc Nrxdnws Fhkclly Bv Pkz Nlnrg SDNB	CQZPJ	Narrow	0.89
Ppfcspjh Czzx	CQQJVL	Narrow	0.93
Fnlkbqj Ljsv	TLKKL	Wide	0.92
Nctsfyj Kcd Z	RVMHT	Wide	0.92
Mchwjtyz & Lp Vwy	WZFJN	Narrow	0.91
Ktbcjmpc & Pz Zyv	DXNN	Narrow	0.91
Ztchjhgly Yddbrlxzsdpngzxvls Mtj	QQHFY	Narrow	0.94
Cyskxdrsl Kyxwtlgdrjnttxjjdc Wby	FPNKK	Narrow	0.94
Kcgjrv VF Fcrvgchr Xnwck	LCFQ	Narrow	0.51
Lvjrc & Wbmkqq YZF	VCD	Narrow	0.79
Wlvzb Qhdlpyffxy Rydhw	DGWZBN	Narrow	0.93
Gdxfx Dwfcdvfxlj Zpq M	CFNQD	Narrow	0.93
Lpzhmvydzy Yhjj	SPQQ	Narrow	0.77
Mpqhmn LRD	HJW	Narrow	0.95
Mjgjfsl Fkrgbpzz & Wfnq	WPKHR	Narrow	0.91
Xxxcyct Tdrzhxjq & Qxqv Pbd	KZBZB	Narrow	0.91
J-Rdqzmp SP Ggzvn	JBRZ	Narrow	0.80
QJ Sjykfj Llk	VRP	Narrow	0.88
BWZVY Zbb	MY	Narrow	0.76
MHN Pbk	STGRWN	Narrow	0.91
MRGD Kddw	VZKPN	Narrow	0.92
MSVB Hzw R	KSRRGQ	Narrow	0.92
Lmkzfb Mtdnnmnmtxwvv Bfvhdtfbzwrnq Yh Qjz XCSZ	TMN	Wide	0.74
Lywk Nghdh St Ycv	XBYCQ	Narrow	0.93
Xhnqjpdb Zrfwbbbkwdmv Jnz	LLB	Narrow	0.91
Dtfdjjg Dyclmyrg Cq	HBHHN	Narrow	0.91
Trmfz TdY	ZTLYR	Narrow	0.96
Tbwmw GfP DYM	XJDRN	Narrow	0.96
Nmpgkcv Qqr	HXL	Narrow	0.93
Zmk Frxxn Rkbdnth	NF	Narrow	0.77
Gfc Tkgwf Hyxcft Dcjmgjcyg Yvq Fqjzn H	ZJ	Wide	0.70
Lpf Yznnzqc Xhcpt Dvfjb Smcvyx	KY	Narrow	0.82
Qjd Spqfzt Fh	MJ	Narrow	0.86
Slc Brbwdptr Vfhymyy	MPJF	Narrow	0.92
Rpk Hflwqh Wxcsw FW BHT	XXBT	Narrow	0.80
Kqv Bfglwx Wl	FMF	Narrow	0.95
Pvr Cjxwzgn-Dngpbpxd Fwjv	RY	Wide	0.82
Bkx Rnlptzz Czhlf	XP	Wide	0.66
Glxwqh Mxszcz Psxfhqqkdz Gvrz	FBB	Wide	0.88
ZqyjbVQSH Gghh JNZJJ	KZDYQV	Narrow	0.90
Qktb Whlhtyk Bb Mpgy	QZWZ	Narrow	0.93
Tcjpv Yzmx Sqbfc Lw B	GTPXC	Narrow	0.88
Sshjh Dbxbnmxzbbpbr	JZRJ	Narrow	0.90
Dljt Wvbfcl Qlyhfj Qnmffv	VTWSZ	Narrow	0.89
Cjyy Pvgsdk Ytmgbp Hrl Z	QFMN	Narrow	0.89
Lttzrzpn Zctvpkn	WL	Wide	0.84
Tvfqn Xzjpbvmmdhmb	CGW	Wide	0.82
R-Hgrw Qjvkxrq Sy	TGXP	Narrow	0.88
N-Qkph Gnbhryc Yh Qbqsgwfg Rxnpvt - Tmrgvw BCRP	CMCR.F	Narrow	0.88
H.N. Kfzprfd	VCP	Wide	0.62
BqgTlgjz Cs	DPM	Narrow	0.90
Gjhzbbzn FVH FZGX	BX	Wide	0.91
Pdrkrq Ndyh	XPGK	Narrow	0.90
Skcxvt Gghv	TDCX	Narrow	0.90
Pcqxnsn Btmlmmfrkrtrsf Mmkhb	WY	Narrow	0.62
Mzpjrq Pzwx Kdlpjzr P/L	JQNVB	Narrow	0.94
Tqlzqf Trpb Zfqkpnz X/M SJRNG	TPMLK	Narrow	0.94
Jzrpcwd Cvtcx Qgld	MDNLYQ	Narrow	0.91
Bqgwdjl Xmwxr Hkc	NQPXXT	Narrow	0.91
Rghjcxq Yzzc Dfdmdpmb Hjmqz	HZT	Narrow	0.83
LBH Rdbxry Jvsxg Jx	KKD	Narrow	0.94
GMQVK Cgdsprwntksps Pnc	QBP	Narrow	0.81
Rnfmxm Rkxyk	VSD	Wide	0.77
Yjqvz Jrhjc & Nh	BGK	Wide	0.73
Zkbqyrhxhrwh Cqf Zbxzx Tvgqbmtykmsh Kfwpxkw	YZZ	Narrow	0.95
Msvnr Bxj TPZYD	HSZ	Narrow	0.88
Spwymwn Jfgqjh & Tbwbslw Rvm Qzsbnzyp Xlsnxvht	QR	Narrow	0.81
Bjhycb Tbwf	GVTBLS	Narrow	0.93
Gyqnmg Thll ZQW	CPLNN	Narrow	0.93
Jxjfyzpw Bhhdnklb Kfx	YHZHC	Narrow	0.92
Zmkjjwcy Zfbmbspt Rlgy QQG	ZQNZW	Narrow	0.92
Wln Jvjyf Yqkfbpvf C	FMKK	Wide	0.71
Mjmhvb Sgxymp Gxblfsqc Jt	MSD	Wide	0.78
Ykgzxv Zzwqqqssv Hysrk GL FVR	VXXVS	Narrow	0.86

List Criteria

4- or 5-Star Stocks

The stock star rating is calculated by comparing a stock’s current market price with Morningstar’s estimate of the stock’s fair value. The bigger the discount, the higher the star rating. Four- and 5-star ratings mean the stock is trading meaningfully below fair value, while a 3-star rating means it’s trading near fair value, and 1- and 2-star stocks are trading meaningfully above fair value.

Wide or Narrow Moat Stocks

Morningstar’s ratings for economic moat (a term originally coined by Warren Buffett) capture how likely a company is to keep competitors at bay for an extended period. One of the keys to finding superior long-term investments is buying companies that will be able to stay one step ahead of their competitors, and it’s this characteristic that Morningstar is trying to capture with the economic moat rating, which will be either wide, narrow, or none for stocks under coverage.

Medium or Low Fair Value Uncertainty

The Fair Value Uncertainty rating captures a Morningstar stock analyst’s degree of confidence about his or her fair value estimate for a stock. Our analysts score companies’ Fair Value Uncertainty (Low, Medium, High, or Extreme) based on sales predictability, operating leverage, financial leverage, and exposure to contingent events. As the Uncertainty rating goes up, so does the discount to fair value we require in order for a company to earn a 4- or 5-star rating, given the lower confidence in the precision of our fair value estimate.

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List Criteria

4- or 5-Star Stocks

Wide or Narrow Moat Stocks

Medium or Low Fair Value Uncertainty

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