Seeking Alpha

Labutes IR

 
View as an RSS Feed
View Labutes IR's Comments BY TICKER:
Latest  |  Highest rated
  • Fiat Chrysler: Wishful Thinking Or Deep Value? [View article]
    Thanks for the comment. Regarding (1) yes, I think that is one way Fiat may go to end dividend restrictions and may try to do it until the end of this year. Regarding (2) I think this plan is more like a "stretch goal", I think they believe in the plan even though the likelihood of perfect execution is low.

    Fiat is undervalued but I don't think it has to do with low wall street coverage, because there is plenty of coverage from European banks. The issue is that Fiat has a leveraged balance sheet and the plan does not address properly how it will deleverage. I think the market is pricing a capital increase down the road, justifying Fiat's current undervaluation compared to its peers.
    May 28, 2014. 05:36 AM | Likes Like |Link to Comment
  • Fiat Chrysler: Wishful Thinking Or Deep Value? [View article]
    Thanks for the feedback.
    Good point, I've focused on reported earnings but taking into account non-recurrent items and pro-forma earnings it may give a better picture of "true" earnings. Clearly FCA is undervalued, even if one does not completely believe on medium-term targets.
    May 26, 2014. 09:12 AM | Likes Like |Link to Comment
  • ConocoPhillips: Higher Cash Flow Supports A Growing Dividend [View article]
    Thanks for all the positive feedback
    Mar 30, 2014. 03:44 PM | 1 Like Like |Link to Comment
  • ConocoPhillips: Higher Cash Flow Supports A Growing Dividend [View article]
    Yes, you're right sorry for the typo
    Mar 30, 2014. 03:44 PM | Likes Like |Link to Comment
  • ConocoPhillips: Higher Cash Flow Supports A Growing Dividend [View article]
    Thanks for the feedback
    Mar 30, 2014. 08:37 AM | 2 Likes Like |Link to Comment
  • Statoil: A Cheap 4.1% Yielder [View article]
    Even if the government decides to reduce its stake, it will continue to be the majority shareholder (>50%), so it may increase the share's liquidity but fundamentally it does not change STO's investment case.
    Mar 28, 2014. 08:15 AM | Likes Like |Link to Comment
  • Statoil: A Cheap 4.1% Yielder [View article]
    COP may be a good alternative indeed, I'm researching it and it yields about the same and has a diversified asset base. I'll much likely publish an article on COP soon.
    Mar 27, 2014. 01:07 PM | Likes Like |Link to Comment
  • Is The European Auto Market Coming Back To Life? [View article]
    I agree, VW is the best car maker in Europe and its valuation does not make much sense. If the European car market rebounds, VW's upside potential is quite high.
    Sep 12, 2013. 06:57 AM | Likes Like |Link to Comment
  • Hyundai: The World's Most Profitable Major Automaker Is A Bargain [View article]
    Thanks for the feedback. See my previous article on Volkswagen, it is a few months old but the investment rationale is still valid:

    http://seekingalpha.co...
    Sep 11, 2013. 05:23 AM | Likes Like |Link to Comment
  • Hyundai: The World's Most Profitable Major Automaker Is A Bargain [View article]
    It may be one reason given that Hyundai's production is still too much based in South Korea, if they go into war with North Korea it will certainly hurt their ability to fulfill customer orders.
    Aug 30, 2013. 02:09 PM | Likes Like |Link to Comment
  • Bolsas Y Mercados Espanoles: Dividend Sustainable Despite Declining Market Share [View article]
    Good article. BME is a good income play, and with increased concentration within the industry sooner or later it should be a takeover target.
    Aug 21, 2013. 09:01 AM | Likes Like |Link to Comment
  • MTN Group: A Rare Combination Of Growth And Yield [View article]
    edexter, thanks for the comment. Indeed, the business in Iran is risky but MTN is well diversified and Iran only represents about 9% of its revenues.
    Jun 24, 2013. 04:50 AM | Likes Like |Link to Comment
  • Value Investors Should Not Overlook Volkswagen [View article]
    CEDUP, see the first graph. The group structure is quite complex. VW owns Porsche AG, but Porsche SE is VW's major shareholder. Indeed, China has become VW's biggest single market, but Europe as a whole is still VW's major market.
    May 28, 2013. 09:28 AM | Likes Like |Link to Comment
  • Value Investors Should Not Overlook Volkswagen [View article]
    Thanks for the comment. Because the European auto market is very weak and VW still sells around 35% of its vehicles to Western Europe. I think until the outlook doesn't turn brighter for Europe, VW will remain undervalued. However, this may also present an opportunity for those willing to wait.
    May 23, 2013. 04:45 AM | 1 Like Like |Link to Comment
  • France Telecom, Deutsche Telekom Or Vodafone: Which Is Better For Income Investors? [View article]
    Yes, I agree with you that the question is valuation. What I am skeptical is that the worst is behind for FTE. But I have to do more research on that, to have an opinion supported by data.
    May 22, 2013. 12:21 PM | Likes Like |Link to Comment
COMMENTS STATS
199 Comments
44 Likes