Maintaining Our EUR 17 FVE for Fiat Chrysler After DOJ Files Lawsuit on Diesel
We are maintaining our EUR 17 and $18 fair value estimates on the shares of no-moat-rated Fiat Chrysler despite the lawsuit the U.S. Department of Justice has filed, alleging the use of "defeat devices" on approximately 104,000 diesel engine-equipped Ram pickups and Jeep Grand Cherokees sold between 2013 and 2016. In our opinion, the situation is nothing akin to the Volkswagen diesel scandal, Fiat Chrysler and the DOJ are likely to come to a settlement, and the lawsuit has no bearing on Fiat Chr...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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