Highlighted Top Ideas GME – GameStop Corp. JCP – J. C. Penney Company, Inc. VRX – Valeant Pharmaceuticals International, Inc. Other Recent Analyses LB – L Brands, Inc. BLDR – Builders FirstSource, Inc....
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May 23, 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: Mercadolibre, Inc. Other Highlights: BOX, MCD, VOW3:DEU Other Recent Analyses: ABBV, ABC, ABI:BEL, ABT, BBY, CAT, DAL, ETSY, FOXF, FP:FRA, GME, GRMN, MRK, TXN, UHS, ULVR:GBR, WIX...
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May 23, 2018
LGI Homes (LGIH:USA)currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 13.1x Uniform P/E. While negative management sentiment suggests the potential for near-term headwinds, market expectations are overly bearish in the context of the firm’s historical performance and current homebuilding tailwinds, implying long-term equity upside remains warranted...
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May 22, 2018
L3 Technologies, Inc. (LLL: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 budget uncertainty, international operations, and operating margin...
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May 21, 2018
McDonald’s Corporation (MCD:USA)currently trades near historical highs relative to UAFRS-based (Uniform) Earnings, with a 26.1x Uniform P/E, implying bullish expectations for the firm. Moreover, management is confident about their initiatives, international operations, and comps...
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May 21, 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 Euronet Worldwide, Inc. (EEFT), ICF International, Inc. (ICFI), AMETEK, Inc. (AME)....
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May 18, 2018
This week the Valens Research team highlights our most interesting equity insight from across our tools and our analysis. Pessimistic market outlook for growth and ROA’, with favorable management alignment, strong strategic positioning and accelerating operational execution points to equity upside...
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May 18, 2018
Volkswagen Aktiengesellschaft (VOW3:DEU)currently trades near historical highs relative to UAFRS-based (Uniform) Assets, with a 1.1x Uniform P/B. At these levels, the market has muted expectations for the firm, and management has concerns about operating profit, WLTP, and pricing...
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May 17, 2018
Highlighted Top Ideas AMAG – AMAG Pharmaceuticals, Inc. BBY – Best Buy Co., Inc. ESV – Ensco plc Other Recent Analyses RPM – RPM International Inc. UHS – Universal Health Services, Inc....
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May 17, 2018
“I’ve got a really good feeling about this” – Young Han Solo on today’s market
In the new Star Wars movie coming out on Memorial Day weekend, a young Han Solo flips his classic line “I’ve got a bad feeling about this” at what appears to be a tense moment for the crew. His rare optimism seems appropriate as we exit Q1 2018 earnings season....
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May 17, 2018
Unilever PLC (ULVR:GBR)is currently trading above historically average valuations relative to UAFRS-based (Uniform) Earnings, with a 22.4x Uniform P/E. At these levels, the market is pricing in expectations for Uniform ROA to improve from 28% in 2017 to 31% through 2022, representing levels not seen before...
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May 17, 2018– CDS 485bps, Base Case iCDS 340bps– Negative Case iCDS 413bps, 2023 5.875% Bond YTW of 7.111%, iYTW of 6.241%– B3 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens– Low Refinancing Need Read More