Uber Technologies (UBER) currently trades at a premium to Uniform assets, with a 6.2x Uniform P/B (V/A′)....
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February 25, 2022
DAL – CDS 267bps, Base Case iCDS 119bps
Negative Case iCDS 148bps, 2025 7.000% Bond YTW of 3.225%
iYTW of 2.885%, Baa3 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens
Low Refinancing Need...
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February 25, 2022
Cintas Corporation (CTAS) currently trades above corporate and near historical averages relative to Uniform earnings, with a 30.0x Uniform P/E (Fwd. V/E’)...
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February 24, 2022
CrowdStrike Holdings, Inc. (CRWD) currently trades above historical averages relative to Uniform assets, with a 24.8x Uniform P/B (V/A’)...
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February 23, 2022
Nasdaq, Inc. (NDAQ) currently trades near corporate but above historical averages relative to Uniform earnings, with a 24.1x Uniform P/E (Fwd. V/E’)....
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February 22, 2022
HES – Trade CDS 116bps
Base Case iCDS 39bps, Negative Case iCDS 53bps, 2027 4.300% Bond YTW of 3.089%
iYTW of 2.328%, Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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February 22, 2022
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: FOUR – Shift4 Payments Other Highlights: ADSK, MSCI, MSFT...
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February 22, 2022
BA – CDS 111, Base Case iCDS 13bps
Negative Case iCDS 28bps, 2027 2.800% Bond YTW of 3.143%, iYTW of 2.023%
Baa2 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens
Low Refinancing Need...
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February 18, 2022
MSCI Inc. (MSCI) currently trades well above corporate and historical averages relative to Uniform earnings, with a 43.9x Uniform P/E (Fwd. V/E’)...
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