Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We 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 more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 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, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

No-moat, 4-star-rated Fiat Chrysler's stock has 55% upside to our EUR 20 fair value estimate from its current trading level.Since the markets began to sell off on China concerns in July, Fiat Chrysler's shares have been beaten down nearly 15%. We think the stock has been overly punished as the market myopically focuses on high debt leverage, cash needed for aggressive expansion, and press coverage of CEO Sergio Marchionne's pursuit of "cataclysmic" industry change.Slower China automobile demand growth will have insufficient impact on Fiat Chrysler to warrant a change in our EUR 20 fair value estimate. Out of a global total of 4.6 million vehicles shipped last year, Fiat Chrysler delivered 182,000 in China.Granted, some were high-profit units from Ferrari and even more so from Maserati. However, Fiat Chrysler has been late to the mainstream, high-volume China market. Jeep models should start penetrating the market in a more meaningful way later next year. Healthy demand in North America and a nascent but solid recovery in Europe enable at least partial offsets to a drop in Brazilian demand and weaker growth in China.In our opinion, the market does not have a full grasp of the potential profitability and returns that can be generated by the complete integration of Fiat Chrysler.Neither does the market fully appreciate the value of the underlying assets of Fiat Chrysler.We expect the Ferrari separation to be completed in the first quarter of 2016, unlocking an undervalued asset for shareholders.With a 4-star rating and the stock currently trading at a 35% discount to our EUR 20 fair value estimate, we think investors can own Ferrari through Fiat Chrysler at a compelling valuation.Analyst: Richard J. HilgertFull Report below the fold....

No-moat, 4-star-rated Fiat Chrysler's stock has 55% upside to our EUR 20 fair value estimate from its current trading level.Since the markets began to sell off on China concerns in July, Fiat Chrysler's shares have been beaten down nearly 15%. We think the stock has been overly punished as the market myopically focuses on high debt leverage, cash needed for aggressive expansion, and press coverage of CEO Sergio Marchionne's pursuit of "cataclysmic" industry change.Slower China automobile demand growth will have insufficient impact on Fiat Chrysler to warrant a change in our EUR 20 fair value estimate. Out of a global total of 4.6 million vehicles shipped last year, Fiat Chrysler delivered 182,000 in China.Granted, some were high-profit units from Ferrari and even more so from Maserati. However, Fiat Chrysler has been late to the mainstream, high-volume China market. Jeep models should start penetrating the market in a more meaningful way later next year. Healthy demand in North America and a nascent but solid recovery in Europe enable at least partial offsets to a drop in Brazilian demand and weaker growth in China.In our opinion, the market does not have a full grasp of the potential profitability and returns that can be generated by the complete integration of Fiat Chrysler.Neither does the market fully appreciate the value of the underlying assets of Fiat Chrysler.We expect the Ferrari separation to be completed in the first quarter of 2016, unlocking an undervalued asset for shareholders.With a 4-star rating and the stock currently trading at a 35% discount to our EUR 20 fair value estimate, we think investors can own Ferrari through Fiat Chrysler at a compelling valuation.Analyst: Richard J. HilgertFull Report below the fold....

Distracted by the Distractions: Focus on Fiat Chrysler's attractive stock valuation

Chairman, sgtradex

Tan Chin-Hwee

Chairman

Thematic (Sector/Industry)

The discourse on Asia&rsquo;s &ldquo;rise&rdquo; is dominated by China and India, countries whose vast populations and buoyant economies have captured the imagination of international investors, journalists and policy analysts.&ldquo;Chindia&rdquo;-scented rhetoric abounds with catchphrases that state the obvious, but whose import is less so. China has the hardware, India the software; India needs China&rsquo;s roads, China could do with India&rsquo;s political inclusiveness. Given how fundamentally different India and China are, though, such &ldquo;lessons learnt&rdquo; are of limited value.The more relevant comparison in Asia &ndash; and one with enormous implications for the global economy &ndash; is between India and its civilisational sibling, Indonesia. These two eclectic democracies share more in common than India and China, yet they are rarely hyphenated.Last year&rsquo;s elections saw the elevation of a new breed of popular leader in both countries. Narendra Modi, whose family ran a tea stall, has risen from near the bottom of India&rsquo;s caste and class hierarchies. Joko Widodo is from a similarly underprivileged background.

The discourse on Asia&rsquo;s &ldquo;rise&rdquo; is dominated by China and India, countries whose vast populations and buoyant economies have captured the imagination of international investors, journalists and policy analysts.&ldquo;Chindia&rdquo;-scented rhetoric abounds with catchphrases that state the obvious, but whose import is less so. China has the hardware, India the software; India needs China&rsquo;s roads, China could do with India&rsquo;s political inclusiveness. Given how fundamentally different India and China are, though, such &ldquo;lessons learnt&rdquo; are of limited value.The more relevant comparison in Asia &ndash; and one with enormous implications for the global economy &ndash; is between India and its civilisational sibling, Indonesia. These two eclectic democracies share more in common than India and China, yet they are rarely hyphenated.Last year&rsquo;s elections saw the elevation of a new breed of popular leader in both countries. Narendra Modi, whose family ran a tea stall, has risen from near the bottom of India&rsquo;s caste and class hierarchies. Joko Widodo is from a similarly underprivileged background.

The Rise of Asia: India and Indonesia's Shared Challenges and Opportunities.

India

Tata Motors Limited manufactures cars and commercial automotive vehicles. The Company designs, manufactures, and sells heavy, medium, and small commercial vehicles including trucks, tankers, vans, buses, ambulances and minibuses. Tata also manufactures small cars and sports utility vehicles.

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Tata Motors Ltd (TTMT IN)

Distracted by the Distractions: Focus on Fiat Chrysler's attractive stock valuation

No-moat, 4-star-rated Fiat Chrysler's stock has 55% upside to our EUR 20 fair value estimate from its current trading level.Since the markets began...

Morningstar, Inc.

The Rise of Asia: India and Indonesia's Shared Challenges and Opportunities.

The discourse on Asia’s “rise” is dominated by China and India, countries whose vast populations and buoyant economies have captured the...

Tan Chin-Hwee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)