Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

Singapore Post Limited is the national postal service provider in Singapore. The Company provides domestic and international postal and courier services including end-to-end integrated mail solutions covering data printing, letter-shopping, delivery and mailroom management, and others. Singapore Post also offers end-to-end e-commerce logistics solutions.

<p>The ongoing transformation of Singapore Post (SingPost) from a post and parcel delivery company into a global logistics operator appears to have slipped under the radar of investors and now offers an opportunity for investors to reassess its potential. We believe expansion into the Australian logistics market offers long-term growth and that historical issues surrounding structural weakness in postal volumes may be resolved by growth in replacement volumes from e-commerce and review of postal services in constructive engagement with the regulator. Implementing the March 2024 strategic review recommendations could help unlock value. We believe there is c 50% upside in the share price.</p>

The ongoing transformation of Singapore Post (SingPost) from a post and parcel delivery company into a global logistics operator appears to have slipped under the radar of investors and now offers an opportunity for investors to reassess its potential. We believe expansion into the Australian logistics market offers long-term growth and that historical issues surrounding structural weakness in postal volumes may be resolved by growth in replacement volumes from e-commerce and review of postal services in constructive engagement with the regulator. Implementing the March 2024 strategic review recommendations could help unlock value. We believe there is c 50% upside in the share price.

Singapore Post - Transformation to global logistics player unnoticed

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

International Distributions Services / Event-Driven

International Distributions Services plc provides postal and delivery services. The Company offers letter and parcel delivery services. International Distributions Services serves consumers, sole traders, SMEs, large businesses, and access operators worldwide.

International Distributions Services (IDS LN)

<ul>
<li>The UK Chancellor stated that any bid for <a href="https://www.smartkarma.com/entities/international-distributions-services-plc" target="_blank" data-smartkarma-citation="entities:22115:1" rel="noopener">International Distributions Services (IDS LN)</a>  (Royal Mail owner) would be thoroughly evaluated for national security considerations to prevent any risks to essential infrastructure.</li>
<li>The Board is "minded to accept" the improved 370p takeover proposal (4.8x EV/Fwd NTM EBITDA) from Czech billionaire Daniel Kretinsky's EP Group, should a formal bid is made.</li>
<li>The improved proposal seems fair. GLS is profitable, while Royal Mail aims break-even by March2025e. Concerns about potential developments post-offer pose a potential political issue. Gross spread is 13.5%.</li>
</ul>


The UK Chancellor stated that any bid for International Distributions Services (IDS LN)  (Royal Mail owner) would be thoroughly evaluated for national security considerations to prevent any risks to essential infrastructure.
The Board is "minded to accept" the improved 370p takeover proposal (4.8x EV/Fwd NTM EBITDA) from Czech billionaire Daniel Kretinsky's EP Group, should a formal bid is made.
The improved proposal seems fair. GLS is profitable, while Royal Mail aims break-even by March2025e. Concerns about potential developments post-offer pose a potential political issue. Gross spread is 13.5%.


EP Group/IDS (Royal Mail): Politically Sensitive

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Rockwell Automation, Inc. produces industrial automation products. The Company offers products such as control systems, motor control devices, sensors, and industrial control panels. Rockwell Automation markets its products worldwide.

<ul><li>Rockwell Automation closed the second quarter of fiscal 2024 on a rather unsteady footing as a result of high inventory levels held by machine builders and slower ramp ups that are impacting shipments for the second half.</li><li>The company has also had to reduce its guidance for the full fiscal year which is proving to be larger than initially expected.</li><li>However, despite what looks like a rocky start to the fiscal year, Rockwell Automation has already set in motion a comprehensive program aimed at expanding margins as the company accelerates actions to align costs with the updated outlook on current year orders.</li></ul>

Rockwell Automation closed the second quarter of fiscal 2024 on a rather unsteady footing as a result of high inventory levels held by machine builders and slower ramp ups that are impacting shipments for the second half.The company has also had to reduce its guidance for the full fiscal year which is proving to be larger than initially expected.However, despite what looks like a rocky start to the fiscal year, Rockwell Automation has already set in motion a comprehensive program aimed at expanding margins as the company accelerates actions to align costs with the updated outlook on current year orders.

Rockwell Automation: Does Its Improved Industrial Automation Adoption Warrant A Bullish Rating? - Major Drivers

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Mitsui Matsushima Co., Ltd. sells coal primarily in the Kyushu region.  The Company also produces construction machinery, cement, and building materials. Mitsui Matsushima operates supermarkets and real estate business as well.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mitsui-matsushima-co-ltd" target="_blank" data-smartkarma-citation="entities:13569:1" rel="noopener">Mitsui Matsushima (1518 JP)</a> was a coal company starting over 100yrs ago. A bunch of years ago it started a solar energy business and then started M&amp;A to diversify.</li>
<li>Coal closed last year and since, MMH has become an investment holdco for "basic businesses" (drinking straws, conveyor system chains, document shredders, weighing machines, crystal measuring devices, mask blanks, etc).</li>
<li>Murakami Group accumulated 4.98% in five weeks, then the next 14.9% in five days. Pump &amp; Dump like Pacific Metals? Activism like JAFCO? Or something else more interesting?</li>
</ul>



Mitsui Matsushima (1518 JP) was a coal company starting over 100yrs ago. A bunch of years ago it started a solar energy business and then started M&amp;A to diversify.
Coal closed last year and since, MMH has become an investment holdco for "basic businesses" (drinking straws, conveyor system chains, document shredders, weighing machines, crystal measuring devices, mask blanks, etc).
Murakami Group accumulated 4.98% in five weeks, then the next 14.9% in five days. Pump &amp; Dump like Pacific Metals? Activism like JAFCO? Or something else more interesting?


JAPAN ACTIVISM: Murakami-Related Buyers Go from 5% to 20% of Mitsui Matsushima (1518) In 5 Days. Hmm

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Thematic (Sector/Industry)

<ul>
<li>China has unveiled measures to emphasize a major push for passenger and freight movement by railroad</li>
<li>Rolling stock companies  play catch-up from the COVID under-investment years</li>
<li>High speed freight trains on near term horizon to compete with highway for e-commerce business</li>
</ul>


China has unveiled measures to emphasize a major push for passenger and freight movement by railroad
Rolling stock companies  play catch-up from the COVID under-investment years
High speed freight trains on near term horizon to compete with highway for e-commerce business


Industrials
Industrials Insights

Singapore Post - Transformation to global logistics player unnoticed

The ongoing transformation of Singapore Post (SingPost) from a post and parcel delivery company into a global logistics operator appears to have...

Edison Investment Research

EP Group/IDS (Royal Mail): Politically Sensitive

The UK Chancellor will thoroughly evaluate any bid for International Distributions Services to prevent risks to essential infrastructure, while...

Jesus Rodriguez Aguilar

Rockwell Automation: Does Its Improved Industrial Automation Adoption Warrant A Bullish Rating? - Major Drivers

Rockwell Automation closed the second quarter of fiscal 2024 on a rather unsteady footing as a result of high inventory levels held by machine...

Baptista Research

China Railway Stocks Back on Track

China is emphasizing a major build of its rail network. The current HSR system is the longest in the world. The surge in domestic travel is...

David Mudd

Singapore Post - Transformation to global logistics player unnoticed

The ongoing transformation of Singapore Post (SingPost) from a post and parcel delivery company into a global logistics operator appears to have...

Edison Investment Research

EP Group/IDS (Royal Mail): Politically Sensitive

​The UK Chancellor will thoroughly evaluate any bid for International Distributions Services to prevent risks to essential infrastructure, while...

Jesus Rodriguez Aguilar

Rockwell Automation: Does Its Improved Industrial Automation Adoption Warrant A Bullish Rating? - Major Drivers

Rockwell Automation closed the second quarter of fiscal 2024 on a rather unsteady footing as a result of high inventory levels held by machine...

Baptista Research

JAPAN ACTIVISM: Murakami-Related Buyers Go from 5% to 20% of Mitsui Matsushima (1518) In 5 Days. Hmm

Murakami-san's "grouping" crept to 4.98% in holdco Mitsui Matsushima over 5wks, then launched to 20% in 5 days. The stock is up big. Actual exit...

Travis Lundy

China Railway Stocks Back on Track

China is emphasizing a major build of its rail network. The current HSR system is the longest in the world. The surge in domestic travel is...

David Mudd

The UK Chancellor will thoroughly evaluate any bid for International Distributions Services to prevent risks to essential infrastructure, while...