NEW YORK, May 30 (Reuters) - Icahn Enterprises IEP.N is a good buy for investors looking to profit off billionaire Carl Icahn’s investment decisions, a story in Barron’s said.
Icahn Enterprises, which closed at $34.30 on Friday, is trading at a discount from its asset value of $44, Barron’s said in its May 31 edition. If the stock’s assets perform well, shares could rise to or above their underlying value, it said.
Icahn Enterprises is a diversified investment company that has a range of holdings, including a stake in Icahn’s hedge fund, real-estate assets, cash, and other investments.
The investments include a 75 percent stake in Federal Mogul FDML.O, an auto-parts maker, the financial weekly said.
Icahn Enterprises shares peaked at $134 in 2007, but Barron’s said there is reason to believe they could rise again.
“Icahn didn’t become a billionaire by making dumb investment decisions, and he’s still doing what he does best, trying to make money for himself and fellow shareholders,” Barron’s wrote.
Reporting by Steve Eder; editing by Gunna Dickson