Raising Fiat Chrysler FVE to EUR 18 ($20 U.S. Shares) on New Effective Tax Rate Assumption
We have raised our fair value estimate on the shares of No-moat rated Fiat Chrysler to EUR 18 from EUR 17. The fair value estimate on the U.S. traded shares is now $20, up from $18. The slightly larger change on the U.S. traded shares resulted from currency translation as the euro spot rate strengthened to $1.1173 versus $1.0678 for our previous fair value estimate. Morningstar now believes that tax reform under the Trump administration is more likely than not. We assume a 25% statutory corporat...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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