Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

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Equity Bottom-Up

<ul>
<li>Softbank's investment in Arm, valued at around USD 148 billion, is its new NAV driver, after its 300% rally post its IPO.</li>
<li>Despite an ongoing share buyback and an LTV near 12.9%, Softbank is still trading around a 59% discount to its net asset value. </li>
<li>Softbank looks like a good proxy for investing in Arm and being long Softbank and Short Arm looks like reasonable risk/reward at current levels. </li>
</ul>


Softbank's investment in Arm, valued at around USD 148 billion, is its new NAV driver, after its 300% rally post its IPO.
Despite an ongoing share buyback and an LTV near 12.9%, Softbank is still trading around a 59% discount to its net asset value. 
Softbank looks like a good proxy for investing in Arm and being long Softbank and Short Arm looks like reasonable risk/reward at current levels. 


Softbank (9984) Is Trading Cheap, And That Could Be An Opportunity

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In the US, initial jobless claims for the week ended February 1st rose to 219 k (213 k e / 208 k revised p).</li>
<li>The macro focus today is on the January nonfarm payrolls report. Treasury yields rose marginally amid few material catalysts.</li>
<li>Yields on the 2Y and 10Y USTs climbed 2 bps each to 4.21% and 4.44%, respectively. </li>
</ul>


In the US, initial jobless claims for the week ended February 1st rose to 219 k (213 k e / 208 k revised p).
The macro focus today is on the January nonfarm payrolls report. Treasury yields rose marginally amid few material catalysts.
Yields on the 2Y and 10Y USTs climbed 2 bps each to 4.21% and 4.44%, respectively. 


Trung Nguyen

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Softbank Group, Sands China, Vedanta Resources</li>
<li>
<p>In the US, the ISM manufacturing index climbed to expansion territory at 50.9 in January (50.0 e / 49.2 revised p), after being in contraction mode for 26 consecutive months.</p>
</li>
<li>
<p>Separately, the January (final) S&amp;P US manufacturing PMI rose to 51.2 (49.4 p), above the preliminary reading of 50.1. US President Donald Trump has agreed to a 30-day pause on his tariff threats against Mexico and Canada, after the two neighbouring countries pledged to bolster border-enforcement efforts in response to Mr Trump’s demands to crack down on illegal immigration and drug smuggling. </p>
</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Softbank Group, Sands China, Vedanta Resources

In the US, the ISM manufacturing index climbed to expansion territory at 50.9 in January (50.0 e / 49.2 revised p), after being in contraction mode for 26 consecutive months.


Separately, the January (final) S&amp;P US manufacturing PMI rose to 51.2 (49.4 p), above the preliminary reading of 50.1. US President Donald Trump has agreed to a 30-day pause on his tariff threats against Mexico and Canada, after the two neighbouring countries pledged to bolster border-enforcement efforts in response to Mr Trump’s demands to crack down on illegal immigration and drug smuggling. 



Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a> went up &gt;10% on Wednesday 22nd of January, after announcing a 500B USD venture with OpenAI and Oracle to build US AI infrastructure </li>
<li>Based on our model reading, the stock is now overbought, but it could go higher rallying on the current frenzy</li>
<li>Check the QUANTCHART below to find out how high the stock could go before stalling or pulling back.</li>
</ul>



Softbank Group (9984 JP) went up &gt;10% on Wednesday 22nd of January, after announcing a 500B USD venture with OpenAI and Oracle to build US AI infrastructure 
Based on our model reading, the stock is now overbought, but it could go higher rallying on the current frenzy
Check the QUANTCHART below to find out how high the stock could go before stalling or pulling back.


Profit Targets for SoftBank Group (9984 JP) After Stargate AI Project Announcement

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ntt-dc-reit" target="_blank" data-smartkarma-citation="entities:45414:1" rel="noopener">Ntt Dc Reit (NTTDCR SP)</a> (NDC), a data center REIT, aims to raise up to US$810m in its Singapore IPO.</li>
<li>The IPO portfolio comprises six mainly freehold data centres in the U.S., Austria and Singapore with an aggregate appraised valuation of US$1.6bn.</li>
<li>In this note, we look at the company's portfolio and its performance.</li>
</ul>



Ntt Dc Reit (NTTDCR SP) (NDC), a data center REIT, aims to raise up to US$810m in its Singapore IPO.
The IPO portfolio comprises six mainly freehold data centres in the U.S., Austria and Singapore with an aggregate appraised valuation of US$1.6bn.
In this note, we look at the company's portfolio and its performance.


NTT DC REIT IPO - Decent Yield, Strong Local Backing, a Few Issues

Japan

SoftBank Group Corp. provides telecommunication services. The Company also operates ADSL (Asymmetric Digital Subscriber Line) and fiber optic high-speed Internet connection, e-Commerce businesses, and Internet based advertising and auction businesses.

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Softbank Group (9984 JP)

Softbank (9984) Is Trading Cheap, And That Could Be An Opportunity

Softbank Group is trading around a 59% discount to NAV. For exposure to the AI opportunity or to take advantage of elevated valuations of Arm...

Finimize Research

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu Property, Bharti Airtel, Softbank Group

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Softbank Group, Sands China, Vedanta Resources

Lucror Analytics

Profit Targets for SoftBank Group (9984 JP) After Stargate AI Project Announcement

Softbank Group (9984 JP) surged over 10% after unveiling a $500B venture with OpenAI and Oracle to develop US AI infrastructure. Despite being...

Nico Rosti

NTT DC REIT IPO - Decent Yield, Strong Local Backing, a Few Issues

Ntt Dc Reit (NTTDCR SP) (NDC), a data center REIT, aims to raise up to US$810m in its Singapore IPO. In this note, we look at its portfolio and...

Sumeet Singh

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Softbank (9984) Is Trading Cheap, And That Could Be An Opportunity

Softbank Group is trading around a 59% discount to NAV. For exposure to the AI opportunity or to take advantage of elevated valuations of Arm...

Finimize Research

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Yuexiu Property, Bharti Airtel, Softbank Group

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Softbank Group, Sands China, Vedanta Resources

Lucror Analytics

Profit Targets for SoftBank Group (9984 JP) After Stargate AI Project Announcement

​Softbank Group (9984 JP) surged over 10% after unveiling a $500B venture with OpenAI and Oracle to develop US AI infrastructure. Despite being...

Nico Rosti

NTT DC REIT IPO - Decent Yield, Strong Local Backing, a Few Issues

Ntt Dc Reit (NTTDCR SP) (NDC), a data center REIT, aims to raise up to US$810m in its Singapore IPO. In this note, we look at its portfolio and...

Sumeet Singh

Softbank Group (9984 JP) surged over 10% after unveiling a $500B venture with OpenAI and Oracle to develop US AI infrastructure. Despite being...