CME Group Inc. (CME:USA) currently trades near historical highs relative to UAFRS-based (Uniform) Assets, with a 43.4x Uniform P/E. At these levels, markets have bullish expectations for the firm, but management has concerns about contract volume and the NEX acquisition integration...
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April 23, 2019
Summary Headlines – Inside This Month
- As covered in this month’s Litman Letter, the market’s sentiment (aka “the voting machine”) continues to provide buying opportunities where fundamentals tip the scales toward more upside (aka the “weighing machine”)
- Profits and profitability continue to rise to all-time highs across US corporations (UAFRS-adjusted, accurate calculations)
- US firms likely to use profits to increase capital investments in 2019...
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April 22, 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. Live Nation Entertainment, Inc. (LYV),Monotype Imaging Holdings, Inc. (TYPE),Ellie Mae, Inc. (ELLI)...
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April 19, 2019
This week the Valens Research team highlights our most interesting equity insight from across our tools and our analysis. CVS is transforming their business and the health market, and current low market expectations do not recognize the company strategy, strong management alignment, and growing management confidence that justify upside...
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April 18, 2019
Highlighted Top Ideas AVP – Avon Products, Inc., DISH – DISH Network Corporation, TWTR – Twitter, Inc. Other Recent OC – Owens Corning, AMKR – Amkor Technology, Inc....
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April 17, 2019
Each week, the Valens Research team highlights our most interesting insights from across our tools and our analysis, including individual company, industry, and macro insights. Top Highlight: Beazer Homes USA, Inc. Other Highlights: BYND, HCKT, LYFT Other Recent Analyses: AMKR, AMT, BBY, BIIB, CCL, DNR, FORR, LEVI, LLL, MDLZ, NCI, PAYX, PRFT, SBAC, SITE...
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April 17, 2019
Pinterest, Inc. (PINS:USA) Assuming a $16 share price, the midpoint of current price ranges, and an anticipated 529 million shares outstanding, Pinterest, Inc. (PINS:USA) will IPO with valuations well above corporate averages relative to UAFRS-based (Uniform) Earnings, with a 37.1x Uniform P/E. At these levels, the market is pricing in expectations for Uniform ROA to expand from 8% in 2018 to 29% through 2023, towards the high end of mature peer levels, accompanied by 6% Uniform Asset growth going forward...
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April 16, 2019PwC The Spring Exchange 2019 – Roadmap to Readiness: How to Compete in the 4th Industrial Revolution
Sunday, May 5, 2019 to Wednesday, May 8, 2019
8:00 AM to 6:30 PM EDT
The Salamander Resort & Spa,
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Middleburg, VA... -
April 16, 2019
Lowe’s Companies, Inc. (LOW:USA) currently trades above historical averages relative to UAFRS-based (Uniform) Earnings, with a 26.7x Uniform P/E. At these levels, the market has bullish expectations for the firm, but management has concerns about their ability to improve underperforming categories, manage distribution and store inventory, and successfully reduce SG&A leverage...
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April 15, 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.
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John Wiley & Sons, Inc. (JW.A), Ambarella, Inc. (AMBA), Huron Consulting Group Inc. (HURN)... -
April 15, 2019
Lyft, Inc. (LYFT:USA) currently trades well above corporate averages relative to UAFRS-based (Uniform) Assets, with a 21.2x Uniform P/B. At these levels, the market is pricing in expectations for Uniform ROA to materially expand, and inflect positively, improving from -117% in 2018 to 32% in 2023...
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