VREX – No Traded CDS, Base Case iCDS 284bps
Negative Case iCDS 380bps, 2027 7.875% Bond YTW of 5.827%, iYTW of 4.677%
B2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreVREX – No Traded CDS, Base Case iCDS 284bps
Negative Case iCDS 380bps, 2027 7.875% Bond YTW of 5.827%, iYTW of 4.677%
B2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreMicrosoft Corporation (MSFT) currently trades at a historical high relative to Uniform earnings, with a 28.1x Uniform P/E (Fwd. V/E’)....
Read MoreFeatured Top Idea
CNC – Centene Corporation
Trade: Buy 2027 4.250% Bonds CUSIP: 15135BAR2 (3.549% YTW, 2.569% iYTW)...
SKT – No Traded CDS, Base Case iCDS 319bps
Negative Case iCDS 377bps, 2027 3.875% Bond YTW of 3.036%, iYTW of 5.006%
Baa3 Rating from Moody’s, HY1 (equivalent to Ba2) Rating from Valens
High Refinancing Need...
Read MoreAutodesk, Inc. (ADSK) currently trades above corporate but below historical averages relative to Uniform earnings, with a 45.2x Uniform P/E (Fwd. V/E’)...
Read MoreSynopsys, Inc. (SNPS) currently trades at a historical high and above corporate averages relative to Uniform earnings, with a 41.6x Uniform P/E (Fwd. V/E’)....
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: H – Hyatt Hotels Corporation Other Highlights: AAPL, APH, MO...
Read MoreNo Trade CDS, Base Case iCDS 119bps
Negative Case iCDS 170bps, 2028 8.000% Bond YTW of 7.106%, iYTW of 3.016%
B3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Moderate Refinancing Need...
Read MoreAmphenol Corporation (APH) currently trades above corporate and historical averages relative to Uniform earnings, with a 26.0x Uniform P/E (Fwd. V/E’)...
Read MoreAMKR – Traded CDS 193bps, Base Case iCDS 107bps
Negative Case iCDS 153bps, 2027 6.625% Bond YTW of 3.885%, iYTW of 2.675%
Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreAltria Group (AAPL) currently trades near corporate but above historical averages relative to Uniform earnings, with a 25.6x Uniform P/E (Fwd. V/E’)....
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