MTDR – No Traded CDS, Base Case iCDS 190bps
Negative Case iCDS 388bps, 2026 5.875% Bond YTW of 5.873%
iYTW of 2.683%, B2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreMTDR – No Traded CDS, Base Case iCDS 190bps
Negative Case iCDS 388bps, 2026 5.875% Bond YTW of 5.873%
iYTW of 2.683%, B2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreExlService Holdings, Inc. (EXLS:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 24.0x Uniform P/E. Even at these levels, the market is pricing in bearish expectations for the firm...
Read MoreFeatured Top Idea
GPS – The Gap, Inc.
Trade: Buy 2025 8.625% Bonds, CUSIP: U36547AD6 (2.542% YTW, 1.482% iYTW)
Trade: Buy 2027 8.875% Bonds, CUSIP: U36547AE4 (2.454% YTW, 1.4291% iYTW)...
HES – CDS 123bps, Base Case iCDS 34bps
Negative Case iCDS 53bps, 2027 4.300% Bond YTW of 2.154%, iYTW of 1.134%
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreThe Coca-Cola Company (KO:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 32.2x Uniform P/E. At these levels...
Read MoreEach 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: EBAY – eBay Inc. Other Highlights: AAPL, AMZN, AYX,...
Read MoreSnap Inc. (SNAP:USA) currently trades at a historical high relative to Uniform assets, with a 31.8x Uniform P/B. At these levels, the market has bullish expectations for the firm...
Read MoreHoneywell International Inc. (HON:USA) currently trades above historical averages relative to UAFRS-based (Uniform) earnings, with a 37.7x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm...
Read MoreGPS – 163bps CDS, Base Case iCDS 67bps
Negative Case iCDS 109bps, 2025 8.625% Bond YTW of 2.542%
iYTW of 1.482%, Ba2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreSKT – Base Case iCDS 318bps,
Negative Case iCDS 394bps, 2026 3.125% Bond YTW of 2.119%
iYTW of 4.019%, Ba1 Rating from Moody’s, HY1 (equivalent to Ba2) Rating from Valens
High Refinancing Need...
Read MoreApple Inc. (AAPL:USA) currently trades above recent averages relative to UAFRS-based (Uniform) earnings, with a 24.1x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm...
Read MoreFeatured Top Idea
AMKR – Amkor Technology, Inc.
Close Trade: 2027 6.625% Bonds, CUSIP: U03169AM8 (2.023% YTW, 1.993% iYTW)...
Microsoft Corporation (MSFT:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 32.7x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm...
Read MoreEach 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: ICHR – Ichor Holdings, Inc. Other Highlights: CTAS, DHR, ES...
Read MoreCarnival Corporation (CCL:USA) currently trades at a premium to UAFRS-based (Uniform) assets, with a 1.2x Uniform P/B. At these levels, the market is pricing in expectations for profitability to inflect positively...
Read MoreProfessor Baruch Lev is one of the foremost academic experts when it comes to analyzing the impact of deficiencies in corporate financial reporting....
Read MoreEversource Energy (ES:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 42.7x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm,...
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