Duncan-Williams Reports DST Systems' Updated Valuation Framework Supports Buy Rating

According to Duncan-Williams, DST Systems' DST updated valuation framework supports its Buy Rating. Duncan-Williams reported that it continues to believe that DST shares remain undervalued trading at just 4.7x on an enterprise value/11E EBITDA basis. “In this report, we have updated our valuation framework using DST's 2010 10K, which includes a sum-of-the-parts analysis along with other ways at looking at the value of the company and the inherent earnings power if the company were to take on greater leverage.” DST Systems closed yesterday at $51.85.