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The Latest from
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June 30, 2021
Featured Top Idea
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BA – The Boeing Company
Trade: Buy 2025 7.250% Bonds CUSIP: 097023AM7 (1.915% YTW, 1.155% iYTW)... -
June 30, 2021
TEGNA Inc. (TGNA:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 10.6x Uniform P/E. At these levels, the market is pricing in bearish expectations for the firm, but management is excited about the Supreme Court media ownership ruling and confident about Premion’s performance and the firm’s cost management...
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June 29, 2021
EPAM Systems, Inc. (EPAM:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 66.3x Uniform P/E. At these levels, the market has bullish expectations for the firm, but management may have concerns about client pricing, employee utilization levels, and their Just-BI acquisition...
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June 29, 2021
PPC – No Traded CDS, Base Case iCDS 119bps
Negative Case iCDS 495bps, 2027 5.875% Bond YTW of 2.799%
iYTW of 2.839%, Ba3 Rating from Moody’s, HY1 (equivalent to Ba2) Rating from Valens
Low Refinancing Need...
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June 29, 2021
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: COF – Capital One Financial Corporation Other Highlights: GPS, NVDA, PANW...
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June 28, 2021
Palo Alto Networks, Inc. (PANW:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 66.6x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm, but management may have concerns about growth rates, their cloud security platforms, and the XSOAR product...
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June 25, 2021
CDS 108, Base Case iCDS 14bps, Negative Case iCDS 29bps
2026 2.196% Bond YTW of 1.747%, iYTW of 0.987%
Baa2 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens
Low Refinancing Need...
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June 25, 2021
The Gap, Inc. (GPS:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 23.3x Uniform P/E. At these levels...
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June 24, 2021
NVIDIA Corporation (NVDA:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 48.9x Uniform P/E....
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