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The Latest from
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December 7, 2018
This week the Valens Research team highlights our most interesting equity insight from across our tools and our analysis. THRM appears to be heating up with market share and market opportunity growth, and ROA’ recovery, while the market may be misunderstanding their risk from the auto cycle, pointing to potential equity upside...
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December 7, 2018
American Tower Corporation (AMT:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) Earnings, with a 34.2x Uniform P/E, implying bullish expectations for the firm. However, management has concerns about the balance of their portfolio, volatility in India, and their ability to remain within leverage targets...
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December 6, 2018
Highlighted Top Ideas JCP – J. C. Penney Company, Inc. KBH – KB Home RYI – Ryerson Holding Corporation Other Recent Analyses BBY – Best Buy Co., Inc. HCA – HCA Healthcare, Inc....
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December 5, 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: Zynga Inc. Other Highlights: BHC, PINC, THRM Other Recent Analyses: ABBV, BMY, CAT, CHTR, DHI, DIS, GM, GNTX, KBH, MA, MO, MYL, PLNT, V, VALE3:BRA...
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December 5, 2018
Volkswagen Aktiengesellschaft (VOW3:DEU) currently trades near historical averages 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 may have concerns about maintaining strong performance, meeting guidance targets, and international segment performance...
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December 4, 2018
Activision Blizzard, Inc. (ATVI:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 14.3x Uniform P/E, implying bearish expectations for the firm. Moreover, management has concerns about their advertising performance, partner network issues, and their ability to sustain elevated in-game revenue levels...
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December 3, 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 Workday, Inc. (WDAY), ACI Worldwide, Inc. (ACIW), Prestige Consumer Healthcare Inc. (PBH)...
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December 3, 2018
Mylan N.V. (MYL:USA) currently trades well below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 10.2x Uniform P/E. At these levels, the market is pricing in expectations for the firm to see profitability fall to near historically low levels, but management’s confidence in their ability to improve their product mix, capture market share, and lower costs suggest this is overly bearish. As such, longer-term outperformance is likely warranted...
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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
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 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 29, 2018
Highlighted Top Ideas BLDR – Builders FirstSource, Inc. CHK – Chesapeake Energy Corporation URI – United Rentals, Inc....
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