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Labutes IR

 
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  • Fiat Chrysler: Wishful Thinking Or Deep Value?
    Mon, May. 26 FIATY 9 Comments

    Summary

    • Fiat Chrysler Automobiles (FCA) presented recently its ambitious five-year strategic plan, aiming at strong growth and higher profitability during 2014-2018.
    • Its targets are mainly dependent on major expansion of both the Jeep and Alfa Romeo brands, which are expected to post unit sales CAGR of 22% and 40%, respectively.
    • No equity issuance is expected, net debt should be stable until 2016, and free cash flow should improve, something that the market is clearly questioning if it is reasonable.
    • Despite the low likelihood of this plan being achievable, Fiat has good value over the long term, even if the company does not completely deliver on its targets.
  • Spain: A Good Play On The European Recovery
    Fri, Apr. 25 EWP 3 Comments

    Summary

    • The economic recovery in Europe is gaining traction and European stocks are appealing for U.S. investors.
    • Spain can be considered a leverage play on this theme, as it recovers from its own crisis but also benefits from higher exports.
    • The iShares MSCI Spain is a good way to play this due to its large exposure to banks, which are highly sensitive to the economic cycle.
  • ConocoPhillips: Higher Cash Flow Supports A Growing Dividend
    Sun, Mar. 30 COP 20 Comments

    Summary

    • ConocoPhillips has a different business profile than most major oil companies, as the company focuses on upstream activities and has a lower political risk exposure.
    • It has become a smaller company over the past few years following the spin-off of its downstream operations and asset sales, allowing it good growth prospects going forward.
    • Its dividend yield of 4% is higher than for most of its closest peers and is sustainable over the long-term.
    • Even though it is currently free cash flow negative, this should change in the medium-term, enabling it to deliver a growing dividend over the next few years.
  • Statoil: A Cheap 4.1% Yielder
    Wed, Mar. 26 STO 11 Comments

    Summary

    • Statoil is a major oil company offering good growth prospects over the next few years due to its successful exploration history.
    • It has a better risk profile than other oil & gas companies, due to low exposure to refining margins in Europe and low geo-political risk exposure.
    • A dividend yield above 4% and a cheap valuation compared to peers makes Statoil a compelling investment opportunity.
  • Philip Morris Is A Safe High-Yield Play
    Dec. 24, 2013 PM 10 Comments
  • Orange: Value Or Trap?
    Dec. 21, 2013 ORAN 21 Comments
  • Align Technology: Not Cheap But Strong Growth Is Expected Ahead
    Sep. 12, 2013 ALGN Comment!
  • Hyundai: The World's Most Profitable Major Automaker Is A Bargain
    Aug. 30, 2013 HYMTF 8 Comments
  • A Pure Emerging-Markets Telco Offering A 3.3% Yield
    Aug. 23, 2013 MIICF 2 Comments
  • MTN Group: A Rare Combination Of Growth And Yield
    Jun. 21, 2013 MTNOY 3 Comments
  • 2 Under-Covered Pharma Stocks With Yields Above 3%
    Jun. 4, 2013 AZN, BMY, ESALY Comment!
  • Value Investors Should Not Overlook Volkswagen
    May. 22, 2013 VLKAY 11 Comments
  • France Telecom, Deutsche Telekom Or Vodafone: Which Is Better For Income Investors?
    Feb. 28, 2013 DTEGY, ORAN, KKPNY 51 Comments
  • Spain: Economic Data Do Not Support Lower Bond Yields
    Feb. 22, 2013 EWP, VOD, VXX 4 Comments
  • A Review Of European Telecoms Yields
    Feb. 22, 2013 DTEGF, ORAN, HLTOY 13 Comments
  • Expect More Turmoil In Europe
    Feb. 5, 2013 EWI, EWP, FXE 5 Comments
  • The Big Picture Is Mixed But Short EUR/USD If It Goes To $1.40
    Feb. 1, 2013 FXE Comment!
  • 7 European Utilities Yielding Above 6%
    Dec. 27, 2012 ECIFY, EDPFY, ENLAY 5 Comments
  • Top Dividend Payers From Switzerland
    Dec. 14, 2012 ABB, EWL, NSRGY 17 Comments
  • Safeway's Low P/E Ratio Could Be Misleading
    Nov. 30, 2012 SWY 11 Comments
  • High-Risk, High-Reward Revisited: 2 Companies With Yields Over 9%
    Nov. 28, 2012 BRSAY, EDPFY, EDRVF 22 Comments
  • H&M: Poor Sales Data Highlights Overvaluation
    Nov. 23, 2012 HNNMY Comment!
  • EUR/USD: Despite Bearish Bias It Is A Two-Way Bet
    Nov. 20, 2012 DRR, FXF, FXS Comment!
  • 5%+ Dividend Payers From Europe
    Nov. 17, 2012 TOT, AZN, GDFZY 4 Comments
  • Analysis Of Safeway's Dividend Sustainability
    Nov. 9, 2012 SWY 9 Comments
  • Inditex Has Surged Sharply In 2012 (And It's From Europe)
    Oct. 31, 2012 IDEXY 1 Comment
  • Does Austerity Work?
    Oct. 30, 2012 39 Comments
  • Casino Guichard Is A Buy On Emerging Markets Exposure And Its 4.4% Yield
    Oct. 25, 2012 CGUIY 6 Comments
  • AUD: Long-Term View Requires Caution
    Oct. 19, 2012 FXA 4 Comments
  • Use VIX To Hedge Your Equity Exposure
    Oct. 15, 2012 VIXY, VIXM 6 Comments
  • Tesco Offers A Safe 4.7% Yield
    Oct. 11, 2012 TSCDY 9 Comments
  • Carrefour: Good Results But Disappointing Strategy
    Aug. 30, 2012 CRRFY 2 Comments