Morningstar optimistic on Soul Patts after upbeat annual results  

** Morningstar upbeat on Australia's Washington H. Soul Pattinson SOL.AX after FY results

** On Thursday, investment firm posted statutory FY net profit after tax of A$2.19 billion ($1.54 billion), 501.9% higher than a year ago

** Investment research firm says SOL's results broadly met its expectations, flags that private credit business is facing headwinds

** Morningstar notes strong net cash flows from investments and contributions from co's energy infrastructure business, which supports data center builds

** Maintains fair value estimate of A$38.5/share for SOL, believes market is too conservative in its valuation of co's unlisted assets such as data center projects, joint venture with Goodman Group including others

** Morningstar also sees more investment overseas from co with A$1 billion in credit balance, cash flow from these investments contributing to further investments and payment of healthy dividends

** YTD, stock more than 25%, as of last close

($1 = 1.4239 Australian dollars)