Under Armor, Inc. (UAA:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 48.8x Uniform P/E...
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June 23, 2021
Featured Top Idea
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TWTR – Twitter, Inc.
Action: Trade: Buy 2027 3.875% Bonds, CUSIP: 90184LAG7 (2.887% YTW, 1.217% iYTW)... -
June 22, 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: JBLU – JetBlue Airways Corporation. Other Highlights: ATVI, BKNG, CBRL...
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June 22, 2021
Old Dominion Freight Line, Inc. (ODFL:USA) currently trades above historical averages relative to UAFRS-based (Uniform) earnings, with a 31.2x Uniform P/E. At these levels...
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June 21, 2021
The Trade Desk, Inc. (TTD:USA) currently trades well above corporate averages relative to UAFRS-based (Uniform) earnings, with an 88.2x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm...
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June 18, 2021
No Traded CDS, Base Case iCDS 156bps
Negative Case iCDS 278bps, 2024 3.500% Bond YTW of 1.934%
iYTW of 1.864%, Ba1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens
Low Refinancing Need...
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June 18, 2021
Linde plc (LIN:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 35.8x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm...
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June 17, 2021
- Early Management Buying Signals May Give Reason for Growing Growth Optimism. For the past several months, we have been highlighting a lack of management commitment to growth as an overhang for the market, and the market’s pause the last several months has confirmed this. However there are very early signs this might be lifting, and if they are confirmed, it is bullish for stocks. Concerns about an investment pause may be lifting, which could accelerate corporate earnings growth.
- Credit markets remain supportive of growth and profitability, as all facets of the credit market are giving positive signals.
- After recent volatility, investor sentiment levels have moderated. With investors no longer in an exceptionally over-bought position, short-term downside risk for the market is much lower. At the same time, high valuations and rising inflation risks may offer headwinds for appreciation. Neutral sentiment removes overhangs for the market, and if growth is accelerating, the market can be positioned to rise even with elevated valuation risk.
- Timetable Recommendation: 50/50 Split for 5-10 Year Money and upgrade to 8 Month Dollar Cost Averaging....
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June 17, 2021
Activision Blizzard, Inc. (ATVI:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 25.1x Uniform P/E. At these levels, the market has bullish expectations for the firm...
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June 17, 2021
No CDS, Base Case iCDS 44bps, Negative Case iCDS 55bps
2027 3.875% Bond YTW of 2.887%, iYTW of 1.217%
Ba2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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June 16, 2021
Xylem Inc. (XYL:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 37.2x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm...
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June 16, 2021
Featured Top Idea
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AAL – American Airlines Group Inc.
Trade: Buy 2025 3.750% Bonds, CUSIP: 02376RAE2 (6.023% YTW, 2.633% iYTW)
Trade: Buy 2025 11.750% Bonds, CUSIP: 023771S58 (4.693% YTW, 2.513% iYTW)...