Highlighted Top Ideas CSTM – Constellium N.V MEG:CAN – MEG Energy Corp. R – Ryder System, Inc. Other Recent Analyses RCII – Rent-A-Center, Inc. CVI – CVR Energy, Inc....
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March 21, 2018
Each week the Valens Securities team highlights our most interesting insights from across our tools and our analysis, including individual company industry and macro insights Top Highlight: Expedia, Inc. (EXPE) Other Highlights: GKOS, PM, TMUS Other Recent Analyses: ABBV, ABT, CSX, D, GT, HD, MLM, MU, NESN:CHE, PKD, PX, RCII, SAN:FRA, STZ, TXN, WMT...
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March 21, 2018
Air Products and Chemicals, Inc. (APD:USA)currently trades at historical highs relative to UAFRS-based (Uniform) Assets, with a 2.0x Uniform P/B, implying bullish expectations for the firm. However, management has concerns about margins, investable cash flow, and volume improvements...
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March 20, 2018
Newfield Exploration Company (NFX:USA)currently trades near historical lows relative to UAFRS-based (Uniform) Assets, with a 0.4x Uniform P/B. At these levels, markets are pricing in expectations for only minimal fundamental improvements, but management is confident about their initiatives and three-year plan...
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March 19, 2018
Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals. This week, we focus on Red Hat, Inc. (RHT), Ansys, Inc. (ANSS), Xilinx, Inc. (XLNX)...
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March 19, 2018
The Home Depot Inc. (HD:USA)currently trades near historical highs relative to UAFRS-based (Uniform) Earnings, with a 23.4x Uniform P/E, implying bullish expectations for the firm. However, management has concerns about investments, ROIC, and sales comps...
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March 16, 2018
T-Mobile US, Inc. (TMUS:USA)currently trades near recent averages relative to UAFRS-based (Uniform) Earnings, with a 21.6x Uniform P/E. At these levels, the market has somewhat bullish expectations for the firm, but management has concerns about their results, debt, and 5G opportunities...
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March 16, 2018
This week the Valens Securities team highlights our most interesting equity insight from across our tools and our analysis. Market’s lack of respect for the upside of PLNT’s franchising strategy, strong management execution, growing management confidence, and overstated credit concerns for the business point to substantial equity upside...
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March 15, 2018
Texas Instruments Inc. (TXN:USA)currently trades near recent highs relative to UAFRS-based (Uniform) Earnings, with a 23.1x Uniform P/E, implying bullish expectations for the firm. However, management has concerns about income, demand, and momentum...
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March 15, 2018
Highlighted Top Ideas RIG – Transocean Ltd. FCX – Freeport-McMoRan Inc. URI – United Rentals, Inc. Other Recent Analyses AKS – AK Steel Holding Corporation CCI – Crown Castle International Corp....
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March 14, 2018
Expedia, Inc. (EXPE:USA) currently trades near historical highs relative to UAFRS-based (Uniform) Earnings, with a 24.2x Uniform P/E. At these levels, the market has bearish expectations for the firm, but management is confident about their growth, investments, and CapEx...
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March 14, 2018– No Traded CDS, Base Case iCDS 264bps– Negative Case iCDS 330bps, 2024 7.000% Bond YTW of 10.591%, iYTW of 5.301%– B3 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens– Moderate Refinancing Need Read More