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The Latest from
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December 1, 2018
Lars Raphael Lammerskotter, Analyst within the Vendor Master Data Team of Mercedes-Benz Group Services Phils. Inc. (MBGSP) Metro Manila, Philippines ...
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November 30, 2018
Gentherm Incorporated (THRM:USA)currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 15.3x Uniform P/E, implying bearish expectations for the firm. However, given management’s confidence about their margin expansion and focused growth initiatives, longer-term outperformance remains warranted...
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November 30, 2018
This week the Valens Research team highlights our most interesting equity insight from across our tools and our analysis. The market is worried about PINC’s legacy business being sick, and is not capturing the strong momentum in their execution into a stickier higher value add business...
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November 29, 2018
Friday and Saturday, February 1 and 2, 2019
8:00 AM to 4:00 PM PHT
Ortigas Center, Quezon City...
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November 29, 2018
Friday and Saturday, January 25 and 26, 2019
8:00 AM to 4:00 PM PHT
Ortigas Center, Quezon City...
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November 29, 2018
Highlighted Top Ideas BLDR – Builders FirstSource, Inc. CHK – Chesapeake Energy Corporation URI – United Rentals, Inc....
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November 28, 2018
Premier, Inc. (PINC:USA)currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 13.5x Uniform P/E. At these levels, the market is pricing in expectations for the firm to see historically low profitability, but management is confident about Stanson, fees, and revenues. As such, longer-term equity upside remains warranted...
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November 28, 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: First Solar, Inc. Other Highlights: ASGN, GILD, TMO Other Recent Analyses: ABBV, AGN, AMAG, BBY, GME, LB, MO, NOV, ZNGA...
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November 27, 2018– CDS 3,500bps, Base Case iCDS 487bps–Negative Case iCDS 880bps, 2023 7.125% Bond YTW of 22.940%, iYTW of 7.740%– Caa2 Rating from Moody’s, HY2 (equivalent to B2) Rating from Valens– High Refinancing Need Read MoreNovember 26, 2018
First Solar, Inc. (FSLR:USA) currently trades at a discount to UAFRS-based (Uniform) Assets, with a 0.7x UAFRS-based P/B. At these levels, the market has muted expectations for the firm, but management is confident in their long-term outlook, operational costs, and new Series 6 model...
Read MoreNovember 26, 2018Each 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 Oracle Corporation (ORCL), Xerox Corporation (XRX), PetMed Express, Inc. (PETS)...
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