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Toyota: One Of The Best Plays On Yen Devaluation
- The Japanese government is pursuing a long-term yen devaluation strategy to fight deflation.
- Toyota is the Japanese automaker that most benefits from a lower yen, due to its high level of domestic production.
- The company's financial results have skyrocketed over the past couple of years, due to a lower yen.
- Toyota is not expensive currently and offers good dividend growth prospects, making it interesting for income investors.
Fiat Chrysler: Wishful Thinking Or Deep Value?
- 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
- 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
- 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
- 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
- Orange: Value Or Trap?
- Align Technology: Not Cheap But Strong Growth Is Expected Ahead
- Hyundai: The World's Most Profitable Major Automaker Is A Bargain
- A Pure Emerging-Markets Telco Offering A 3.3% Yield
- MTN Group: A Rare Combination Of Growth And Yield
- 2 Under-Covered Pharma Stocks With Yields Above 3%
- Value Investors Should Not Overlook Volkswagen
- France Telecom, Deutsche Telekom Or Vodafone: Which Is Better For Income Investors?
- Spain: Economic Data Do Not Support Lower Bond Yields
- A Review Of European Telecoms Yields
- Expect More Turmoil In Europe
- The Big Picture Is Mixed But Short EUR/USD If It Goes To $1.40
- 7 European Utilities Yielding Above 6%
- Top Dividend Payers From Switzerland
- Safeway's Low P/E Ratio Could Be Misleading
- High-Risk, High-Reward Revisited: 2 Companies With Yields Over 9%
- H&M: Poor Sales Data Highlights Overvaluation
- EUR/USD: Despite Bearish Bias It Is A Two-Way Bet
- 5%+ Dividend Payers From Europe
- Analysis Of Safeway's Dividend Sustainability
- Inditex Has Surged Sharply In 2012 (And It's From Europe)
Does Austerity Work?
Oct. 30, 2012 • 39 Comments
- Casino Guichard Is A Buy On Emerging Markets Exposure And Its 4.4% Yield
- AUD: Long-Term View Requires Caution
- Use VIX To Hedge Your Equity Exposure
- Tesco Offers A Safe 4.7% Yield