Raising Nissan Fair Value to $26 from $24 on New Effective Tax Rate Assumption and Currency Impact
We have raised our fair value estimate on the American Depository Receipt, or ADR, shares of no-moat rated Nissan to $26 from $24. New tax rate assumptions accounted for $1 of the change while currency translation made up the other $1 of the increase. Our new fair value estimate on the U.S. traded shares incorporates a currency translation spot rate of JPY 109.442 to USD 1 versus the weaker yen rate of JPY 116.25 to USD 1 used in our previous fair value estimate. Morningstar now believes that ta...
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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