Morningstar, Inc. - December 1, 2025
How ETFs Help You Cut Your Tax Bill
Plus, the 10 best companies to invest in now and what to know...
 Morning DigestBryan Armour, Ivanna Hampton Also, a look at the exchange-traded funds that are tax-efficient and those that are not. 
ADVERTISEMENT  Editor's Picks  These high-quality companies offer the best stocks to buy today. Margaret Giles  Funds from Baird, Fidelity, and Guggenheim are among the best performers. Gabe Alpert  This year’s unlisted public BDC performance is a reminder that private markets don’t always outperform public markets. Jason Kephart Investing Insights A look at trends, performance, and investing opportunities in REITs. Brian Paoli We think Alibaba stock is undervalued. Chelsey Tam The midpoint of guidance implies December monthly delivery to be around 42,000 units. Vincent Sun With continued increase in sales growth, here’s what we thought of Walmart stock. Brett Husslein New Stock Analyst Reports Target’s (TGT) strategy revolves around leveraging its domestic store base (which sits at around 2,000 stores) as both shopping destinations and fulfillment hubs, supported by a curated mix of discretionary categories and essential staples. We believe the model effectively enhances convenience and cost efficiency, yet it relies more on operational execution than structural advantage, offering little to distinguish Target in a market defined by price leadership and convenience. Profits are driven by apparel, home, beauty, and food, with owned brands delivering an estimated 25%-30% higher gross margin relative to national labels. Over the next five years, we expect Target to focus on supply chain efficiency, digital capabilities, and private-label development to defend share and relevance in a retail landscape dominated by scale and convenience. New Fund Analyst Reports Fidelity Growth Company’s (FDGRX) long-term success owes much to the stock-picking prowess of manager Steve Wymer—and especially to his early embrace of Nvidia, whose extraordinary ascent in recent years has made it a defining force in the portfolio. With fees ranging from 0.45% to 0.55% of assets—some of the lowest price tags for an actively managed fund in the large-growth Morningstar Category—the strategy remains one of that group’s most compelling options. Two share classes have performance-based mechanisms that recently pushed down their net expense ratios. The Tools You Need to Invest Like an Analyst Stay connected:
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