Fiat Chrysler EUR 17 FVE Maintained after Media Reports of Possible DOJ Lawsuit on Diesel
We are maintaining our EUR 17 ($18 for U.S. traded shares) fair value estimate on the shares of no-moat-rated Fiat Chrysler after Bloomberg reported that the Department of Justice was preparing to file a lawsuit “if talks fail to resolve differences over the automaker’s alleged violations of U.S. clean-air rules with its diesel vehicles.†Our EUR 17 fair value estimate already includes a EUR 2.0 billion carve-out from our enterprise value for a potential diesel emission settlement. For every EUR...Fiat Chrysler Automobiles is a holding company. Through its subsidiaries, Co. is an international automotive group engaged in designing, engineering, manufacturing, distributing and selling vehicles, components and production systems. Co. has operations in approx. 40 countries and sells its vehicles directly or through distributors and dealers in more than 140 countries. Co. designs, engineers, manufactures, distributes and sells vehicles for the mass market under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia and Ram brands and the SRT performance vehicle designation.
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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