It's not too often that investors get the opportunity to buy a company with a durable competitive advantage and a history of high earnings growth in a growing industry at a valuation less than that of the overall market. This is exactly the situation facing investors today with The Dun & Bradstreet Corp (DNB).
At today's prices (~$120), DNB looks cheap at roughly 14.5X my estimate for 2014 EPS (~$8.25). This compares favorably with the market as a whole which is trading around 16-17X forward EPS. D&B's stock has had a good year without a doubt having risen nearly 50% over the course of the last 12 months, but given the earnings growth the company is seeing and...
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