Raising Our BlueScope FVE to AUD 8.70 With Steel Tariffs on Canada, Mexico, and EU
With 25% steel tariffs now set to take hold for imports from Canada, Mexico, and the European Union, we've raised our steel price outlook. Previously, we expected these countries to be exempt from the Trump administration's tariff program and instead to be subject only to import quotas. As a result, we raise our fair value estimate for no-moat-rated BlueScope Steel by 9% to AUD 8.70 per share from AUD 8.00. BlueScope benefits though its U.S.-based NorthStar mini mill, which produces about 2.1 mi...BlueScope is a manufacturing technology company. Co.'s segments are Australian Steel Products, which produces coated and painted flat steel products for building and construction customers and commodity flat steel products; New Zealand & Pacific Steel, which consists of New Zealand Steel, Pacific Steel, New Zealand Minerals, and BlueScope Pacific Islands areas; BlueScope Buildings, which servicing the low-rise non-residential construction; Building Products ASEAN, North America and India, which producing metal coated and painted steel building products; and Hot Rolled Products North America, which includes a single site electric arc furnace producer of hot rolled coil in Ohio, the U.S.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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