Morningstar launches coverage of Pearson (PSON), world’s largest education provider. Initiates with fair value estimate of GBX 1,000, Medium Morningstar Uncertainty Rating. Pearson has intangible assets, switching costs in assessment and qualifications, higher education, but lacks strong moat. Revenue growth projected at 3.3%, 5% margin increase. Pearson expects growth from early careers, enterprise upskilling/reskilling. Acquired Credly, eDynamic Learning. Forecasting 7% annual revenue increase.

Read more at Morningstar: Initiating Coverage of Pearson Stock, Shares Fairly Valued