Highlighted Top Ideas AKS – AK Steel Holding Corporation FCX – Freeport-McMoRan Inc. UHS – Universal Health Services, Inc. Other Recent Analyses GPS – The Gap, Inc. LB – L Brands, Inc. BHC – Bausch Health Companies Inc....
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February 20, 2019
Cirrus Logic Inc. (CRUS:USA) trades well below corporate averages relative toUAFRS-based (Uniform) Earnings, with a 14.2x Uniform P/E. At these levels, the market is pricing in bearish expectations for the firm, which may be unwarranted given management’s confidence about the potential of closed-loop controllers and voice biometrics, justifying outperformance going forward...
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February 20, 2019
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: Johnson & Johnson Other Highlights: DHI, FII, TXN Other Recent Analyses: ABBV, ACN, AKS, EBAY, FB, GILD, GOOGL, IBM, LEN, MLNX, NOV, SBUX, TGE, UNH, UTX, ZAYO...
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February 18, 2019
Alphabet, Inc (GOOGL:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 17.8x Uniform P/E, implying fairly bearish expectations for the firm. While management may have concerns about AI, YouTube, and balancing capex and investments suggesting the potential for near-term headwinds, the firm’s leadership position in its space, and lack of management concern about competitive pressures suggest longer-term upside remains warranted...
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February 18, 2019
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 General Mills, Inc. (GIS), Activision Blizzard, Inc. (ATVI), Euronet Worldwide, Inc. (EEFT)...
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February 18, 2019
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February 15, 2019
Texas Instruments Inc. (TXN:USA) currently trades above historical averages relative to UAFRS-based (Uniform) Earnings, with a 23.3x Uniform P/E. At these levels, markets are pricing in bullish expectations for the firm, but management may be concerned about continued decreases in gross profit, inventory management, revenue growth, and their Chinese business...
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February 15, 2019
This week the Valens Research team highlights our most interesting equity insight from across our tools and our analysis. The market is concerned about rapid profitability and growth declines, while management continues to see strong execution, spelling upside potential...
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February 14, 2019–CDS 783bps, Base Case iCDS 304bps–Negative Case iCDS 524bps, 2023 7.500% Bond YTW of 6.998%, iYTW of 5.878%–B2 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens–Moderate Refinancing Need Read MoreFebruary 14, 2019
Highlighted Top Ideas AL – Air Lease Corporation HTZ – Hertz Global Holdings, Inc. UNT – Unit Corporation Other Recent Analyses CVS – CVS Health Corporation...
Read MoreFebruary 13, 2019currently trades below historical averages relative to UAFRS-based (Uniform) Earnings, with a 12.4x Uniform P/E. At these levels, the market has bearish expectations for the firm, but management is confident about their strategic value dividend strategy and Hermes acquisition...
Read MoreFebruary 13, 2019Each 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: Ingersoll-Rand Plc Other Highlights: CTXS, LRCX, NFLX Other Recent Analyses: ABBV, AES, ALV, AXTA, BAH, BBY, CCK, CCL, DOOR, FLS, KEYS, STOR, TTWO, VMC, ZBRA...
Read MoreFebruary 12, 2019Facebook, Inc. (FB:USA) currently trades below historical averages relative to UAFRS-based (Uniform) Earnings, with a 14.8x Uniform P/E. At these levels, markets are pricing in extremely bearish expectations for the firm, which appears unwarranted given management’s confidence in the advertising potential of their platforms, and developments in the Watch tab...
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