U.S. Steel Tariff Increases Would Only Reduce FVEs on European Capital Good Suppliers by 5%
We see less than a 5% potential impact to our fair value estimates for European equipment suppliers in our coverage from the steel tariffs proposed by the Trump administration. Of the companies in our coverage, several manufacture components and equipment with a high metal content, including Kone, Schindler, SKF, Atlas Copco, Assa Abloy, Alfa Laval, and GEA group. Their range of revenue exposure to North America is 20%-40%, with most of that coming from the U.S. However, only 40%-70% of the reve...
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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