Interesting in a declining stock market, page-12

Well you could be forgiven for getting excited about that ......until you read this .....

“Funds management giant Magellan is worth twice what its share price indicates, according to Morningstar, as a new chief executive, staff retention efforts and slowing outflows improve the outlook for the hard-hit firm.Morningstar has placed a fair value estimate on the company’s share price of $31.30, more than double the $15.23 level at which the shares closed on Monday, and pointed to encouraging signs that the business has entered into a calmer phase after months of turbulence”