Raising Magna's FVE to $55 (CAD 75) From $46 (CAD 58); Rating to 4 Stars From 3 Stars
We have raised our fair value estimate for no-moat-rated Magna to $55 (CAD 75) from $46 (CAD 58) owing to various factors, including currency translation, higher forecast revenue, slightly better forecast profitability, lower effective tax-rate assumptions, an adjustment to our weighted average cost of capital, and the time value of money. Consequently, our rating has increased to 4 stars from 3. The market consensus price target is currently $50, while the stock trades at an attractive 25% disc...Magna is a global automotive supplier whose product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as vehicle engineering and contract manufacturing. Co.'s operations are segmented on a geographic basis. Co.'s segments consist of North America, Europe, Asia and Rest of World.
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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