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The Latest from
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May 13, 2022
VREX – No Traded CDS, Base Case iCDS 302bps
Negative Case iCDS 422bps, 2027 7.875% Bond YTW of 7.269%, iYTW of 5.959%
B2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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May 13, 2022
United Therapeutics Corporation (UTHR) currently trades below corporate but around historical averages relative to Uniform earnings, with an 8.0x Uniform P/E (Fwd. V/E’)...
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May 12, 2022
Centene Corporation (CNC) currently trades below corporate but above historical averages relative to Uniform earnings, with a 13.8x Uniform P/E (Fwd. V/E’)...
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May 11, 2022
Featured Top Idea
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CNC – Centene Corporation
Trade: Buy 2027 4.250% Bonds CUSIP: 15135BAR2 (5.050 % YTW, 3.750% iYTW)
Buy 2028 2.405% Bonds CUSIP: 15135BAY7 (4.807% YTW, 3.733% iYTW)... -
May 11, 2022
Lennar Corporation (LEN) currently trades well below historical and corporate averages relative to Uniform earnings, with a 5.6x Uniform P/E (Fwd. V/E’)...
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May 10, 2022
nVent Electric plc (NVT) has been rolling up the protected enclosure business to become a key vendor to the “electrification of everything” trend related to the modernization of American corporate infrastructure. Uniform Accounting highlights that the market is missing nVent’s improving competitive position and its massive upcoming tailwinds, indicating equity upside....
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May 10, 2022
SITC – Base Case CDS 144bps, Base Case iCDS 307bps
Negative Case iCDS 344bps, 2027 4.700% Bond YTW of 4.669%, iYTW of 6.079%
Baa3 Rating from Moody’s, HY2 (equivalent to B2) Rating from Valens
High Refinancing Need...
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May 10, 2022
MTDR – No Traded CDS, Base Case iCDS 168bps
Negative Case iCDS 305bps, 2026 5.875% Bond YTW of 6.134%, iYTW of 4.584%
B1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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May 9, 2022
CNC – Traded CDS 140bps, Base Case iCDS 73bps
Negative Case iCDS 81bps, 2027 4.250% Bond YTW of 5.050%, iYTW of 3.750%
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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May 9, 2022
Verizon Communications Inc. (VZ) currently trades below corporate but above its historical averages relative to Uniform earnings, with a 18.8x Uniform P/E (Fwd. V/E’)...
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