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Smartkarma Daily Briefs

Dec 25
0

Daily Brief Credit: Albemarle Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report and more

By | Credit, Daily Briefs

In today’s briefing:

  • Albemarle Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
  • Cardinal Health Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
  • Constellation Brands Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
  • CSX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
  • Dollar General Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
  • Take-Two Interactive Software Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Albemarle Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Albemarle Corporation is one of the largest producers of lithium, bromine, and other related specialty chemicals across the world.
  • The strong performance for its lithium business has been driven by higher volumes and higher realized pricing.
  • Albemarle is realigning its core bromine and lithium businesses to energy specialties and storage and expects it to be effective next month.

Cardinal Health Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Cardinal Health is one of the largest wholesalers within the healthcare domain in the U.S.
  • The company’s recent financial performance has been fairly decent, largely driven by its Pharma segment growth despite managing industry-wide inflationary headwinds.
  • Upstream and Specialty, the company’s third-party logistics business, has been continuing its strong growth new launches.

Constellation Brands Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Constellation Brands is a major player in the international alcoholic beverage market, particularly the Mexican beer space.
  • The beer business of the company is well placed that continues to support the steady growth of the brands.
  • Among other developments, Constellation Brands has recently reached a pact with The Wine Growth to divest a portion of the company’s premium and mainstream wine portfolio.

CSX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • CSX Corporation is one of the largest providers of rail-based freight transportation services in the United States.
  • The company’s services include not only traditional rail service and transport of intermodal containers and trailers but also rail-to-truck transfers and bulk commodity operations.
  • Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.

Dollar General Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Dollar General Corporation is a major discount retailer operating in the U.S.
  • The company’s business has been impacted by inflation and the ongoing supply chain issues but it has managed a decent comp sales growth and market share growth of both consumable and non-consumable product sales in recent results.
  • This includes challenges within the company’s supply chain, higher inventory shrink and damages, sales mix pressures, and everything that impacted gross margin.

Take-Two Interactive Software Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Take-Two Interactive Software is a renowned a well-known developer, publisher, and marketer of games and interactive entertainment for consumers across the globe.
  • The company has expanded its scale tremendously after the recent acquisition of Zynga.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

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Dec 25
0

Daily Brief Equity Bottom-Up: Bloomberry Resorts: Flagging the Philippine Casino Market’s Fastest Recovery in All of Asia and more

By | Daily Briefs, Equity Bottom-Up

In today’s briefing:

  • Bloomberry Resorts: Flagging the Philippine Casino Market’s Fastest Recovery in All of Asia
  • The TJX Companies Inc.: Initiation of Coverage – Recent Macro & Key Drivers
  • Constellation Brands Inc.: Initiation of Coverage – Financial Forecasts
  • CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers
  • Dollar General Corporation: Initiation of Coverage – Business Strategy & Key Drivers
  • Roblox Corporation: Initiation of Coverage – Business Strategy & Key Drivers
  • Take-Two Interactive Software Inc.: Initiation of Coverage – Adapting To An Evolving Business Environment & Key Drivers
  • Albemarle Corporation: Initiation of Coverage – Financial Forecasts
  • Veeva Systems Inc.: Initiation of Coverage – Product Offerings & Key Drivers
  • Cardinal Health Inc.: Initiation of Coverage – Positioning In An Oligopolistic Market & Key Drivers

Bloomberry Resorts: Flagging the Philippine Casino Market’s Fastest Recovery in All of Asia

By Howard J Klein

  • Last August 13th we urged investors to take a hard look at the spurt in the Philippine gaming market as soon as covid related shutdowns ended. Bloomberry traded at 7.1php.
  • We reiterated our bullish view this past November 13th at 9.7php.
  • Price at writing has fallen back to 7.50 indicates that conviction in the Philippine gaming recovery has not yet been recognized by investors in the space.

The TJX Companies Inc.: Initiation of Coverage – Recent Macro & Key Drivers

By Baptista Research

  • This is our first report on TJX Companies is pleased with its third-quarter performance.
  • The company once more produced solid profitability and a fantastic merchandise margin.
  • We initiate coverage on the stock of The TJX Companies with a ‘Hold’ rating.

Constellation Brands Inc.: Initiation of Coverage – Financial Forecasts

By Baptista Research

  • This is our first report on Constellation Brands, a dominant player in the international alcoholic beverage market, particularly the Mexican beer space.
  • The buy rate increased in the quarter for both total wine categories and high-end beer in tracked channels.
  • The beer business of the company remained well placed that continues to support the steady growth of the brands.

CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers

By Baptista Research

  • This is our first report on CSX, one of the largest providers of rail-based freight transportation services in the United States.
  • Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.
  • We also have a dedicated analysis of the company’s Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.

Dollar General Corporation: Initiation of Coverage – Business Strategy & Key Drivers

By Baptista Research

  • This is our first report on major discount retailer, Dollar General Corporation.
  • Its revenue growth was led by comp sales growth and in market share of both consumable and non-consumable product sales.
  • Dollar General, during the quarter, experienced significantly higher cost pressures.

Roblox Corporation: Initiation of Coverage – Business Strategy & Key Drivers

By Baptista Research

  • This is our first report on Roblox, one of the most popular online entertainment and gaming platforms in the U.S. that is gradually spreading its wings across the world.
  • Their DAUs were 58.8 million in Q3 on a DAU basis, a 24% growth from the same quarter last year.
  • It is a fact that Roblox continues to face challenging comparisons especially with the last year and the pandemic times.

Take-Two Interactive Software Inc.: Initiation of Coverage – Adapting To An Evolving Business Environment & Key Drivers

By Baptista Research

  • This is our first report on Take-Two Interactive Software, a well-known developer, publisher, and marketer of games and interactive entertainment for consumers across the globe.
  • The company delivered a disappointing result in the past quarter failing to meet Wall Street expectations in terms of revenues as well as earnings.
  • We initiate coverage on the stock of Take-Two Interactive Software with a ‘Buy’ rating.

Albemarle Corporation: Initiation of Coverage – Financial Forecasts

By Baptista Research

  • This is our first report on Albemarle Corporation, one of the largest producers of lithium, bromine, and other related specialty chemicals across the globe.
  • The strong performance for its lithium segment was driven by higher volumes and higher realized pricing.
  • Albemarle is realigning its core bromine and lithium businesses to energy specialties and storage and expects it to be effective next month.

Veeva Systems Inc.: Initiation of Coverage – Product Offerings & Key Drivers

By Baptista Research

  • This is our first report on Veeva Systems, one of the well-known providers of cloud-based software solutions for the global life sciences industry.
  • The fact remains that bulk of the revenue of Veeva is on the application of Veeva Vault.
  • We initiate coverage on the stock of Veeva Systems with a ‘Hold’ rating.

Cardinal Health Inc.: Initiation of Coverage – Positioning In An Oligopolistic Market & Key Drivers

By Baptista Research

  • This is our first report on Cardinal Health, one of the largest wholesalers within the healthcare domain in the U.S.
  • The company delivered a mixed result in the last quarter surpassing revenue expectations of Wall Street but missing out on earnings.
  • Cardinal delivered higher than its expectations in its Pharma segment despite managing industry-wide inflationary headwinds.

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  • ✓ Events & Webinars
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Dec 25
0

Daily Brief Event-Driven: EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades and more

By | Daily Briefs, Event-Driven

In today’s briefing:

  • EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
  • Last Week in Event SPACE: Oz Minerals, Warrego, JAFCO, Swire Pac’s A&Bs, Korean Mandatory Offers
  • Index Rebalance & ETF Flow Recap: SET50, Stock Connect, Kanzhun, Futu, AMFI
  • Estimating Fund Size Tracking KOSPI MID Cap Index

EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades

By Simon Harris

  • Weekly summary of vol changes and moves across Global Markets
  • Analysing ATM volatility and skew changes over the last 5 days
  • We suggest a few trades to take advantage of the implied vol surfaces

Last Week in Event SPACE: Oz Minerals, Warrego, JAFCO, Swire Pac’s A&Bs, Korean Mandatory Offers

By David Blennerhassett

  • For OZ Minerals (OZL AU),  look elsewhere unless you are VERY bullish copper. But if you are VERY bullish copper, buy copper options rather than the embedded option in OZL. 
  • Game on as Warrego Energy (WGO AU) shareholders weigh the pros and cons of Hancock’s all-cash Offer against Strike Energy (STX AU)‘s “superior” scrip proposal. 
  • Jafco Co Ltd (8595 JP) succumbed to greenmail and tried to boost the price to explain the exit they were going to give Murakami-san. It didn’t work. 

Index Rebalance & ETF Flow Recap: SET50, Stock Connect, Kanzhun, Futu, AMFI

By Brian Freitas

Estimating Fund Size Tracking KOSPI MID Cap Index

By Sanghyun Park

  • About ₩3T trillion is presumed to flow from NPS to KOSPI MID. Then, ₩0.8T from local publicly raised funds should be sitting in KOSPI MID. Adding these two alone amounts ₩4T.
  • Of course, this is ACTIVE. In other words, they do not need to proceed with universe changes due to rebalancing at the same pace as ETFs.
  • Nevertheless, we should note that the domestic fund industry does not allow a large gap with BM. Hence, at least ₩4T of funds follow KOSPI MID quite tightly.

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  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Dec 25
0

Daily Brief Industrials: Csx Corp and more

By | Daily Briefs, Industrials

In today’s briefing:

  • CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers
  • CSX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers

By Baptista Research

  • This is our first report on CSX, one of the largest providers of rail-based freight transportation services in the United States.
  • Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.
  • We also have a dedicated analysis of the company’s Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.

CSX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • CSX Corporation is one of the largest providers of rail-based freight transportation services in the United States.
  • The company’s services include not only traditional rail service and transport of intermodal containers and trailers but also rail-to-truck transfers and bulk commodity operations.
  • Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.

💡 Before it’s here, it’s on Smartkarma

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The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Dec 25
0

Daily Brief Energy/Materials: Albemarle Corp and more

By | Daily Briefs, Energy & Materials Sector

In today’s briefing:

  • Albemarle Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
  • Albemarle Corporation: Initiation of Coverage – Financial Forecasts

Albemarle Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Albemarle Corporation is one of the largest producers of lithium, bromine, and other related specialty chemicals across the world.
  • The strong performance for its lithium business has been driven by higher volumes and higher realized pricing.
  • Albemarle is realigning its core bromine and lithium businesses to energy specialties and storage and expects it to be effective next month.

Albemarle Corporation: Initiation of Coverage – Financial Forecasts

By Baptista Research

  • This is our first report on Albemarle Corporation, one of the largest producers of lithium, bromine, and other related specialty chemicals across the globe.
  • The strong performance for its lithium segment was driven by higher volumes and higher realized pricing.
  • Albemarle is realigning its core bromine and lithium businesses to energy specialties and storage and expects it to be effective next month.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Dec 25
0

Daily Brief Industrials: Csx Corp and more

By | Daily Briefs, Industrials

In today’s briefing:

  • CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers
  • CSX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers

By Baptista Research

  • This is our first report on CSX, one of the largest providers of rail-based freight transportation services in the United States.
  • Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.
  • We also have a dedicated analysis of the company’s Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.

CSX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • CSX Corporation is one of the largest providers of rail-based freight transportation services in the United States.
  • The company’s services include not only traditional rail service and transport of intermodal containers and trailers but also rail-to-truck transfers and bulk commodity operations.
  • Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Dec 25
0

Daily Brief TMT/Internet: Hong Kong Hang Seng Index, Delta Electronics Thai, ROBLOX Corp, Take Two Interactive Software, Inc and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
  • Index Rebalance & ETF Flow Recap: SET50, Stock Connect, Kanzhun, Futu, AMFI
  • Roblox Corporation: Initiation of Coverage – Business Strategy & Key Drivers
  • Take-Two Interactive Software Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
  • Take-Two Interactive Software Inc.: Initiation of Coverage – Adapting To An Evolving Business Environment & Key Drivers

EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades

By Simon Harris

  • Weekly summary of vol changes and moves across Global Markets
  • Analysing ATM volatility and skew changes over the last 5 days
  • We suggest a few trades to take advantage of the implied vol surfaces

Index Rebalance & ETF Flow Recap: SET50, Stock Connect, Kanzhun, Futu, AMFI

By Brian Freitas

Roblox Corporation: Initiation of Coverage – Business Strategy & Key Drivers

By Baptista Research

  • This is our first report on Roblox, one of the most popular online entertainment and gaming platforms in the U.S. that is gradually spreading its wings across the world.
  • Their DAUs were 58.8 million in Q3 on a DAU basis, a 24% growth from the same quarter last year.
  • It is a fact that Roblox continues to face challenging comparisons especially with the last year and the pandemic times.

Take-Two Interactive Software Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Take-Two Interactive Software is a renowned a well-known developer, publisher, and marketer of games and interactive entertainment for consumers across the globe.
  • The company has expanded its scale tremendously after the recent acquisition of Zynga.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Take-Two Interactive Software Inc.: Initiation of Coverage – Adapting To An Evolving Business Environment & Key Drivers

By Baptista Research

  • This is our first report on Take-Two Interactive Software, a well-known developer, publisher, and marketer of games and interactive entertainment for consumers across the globe.
  • The company delivered a disappointing result in the past quarter failing to meet Wall Street expectations in terms of revenues as well as earnings.
  • We initiate coverage on the stock of Take-Two Interactive Software with a ‘Buy’ rating.

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  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Dec 25
0

Most Read: Omni Bridgeway, DMCI Holdings, Tongcheng-Elong Holdings Ltd, Tietto Minerals Ltd, Liontown Resources, TA Chen Stainless Pipe, Cromwell Property, Delta Electronics Thai, Haidilao, Japan Securities Finance Co and more

By | Daily Briefs, Most Read

In today’s briefing:

  • S&P/​​​​​ASX Index Rebalance Preview: A Busy March (Maybe January and February Too)
  • PCOMP Index Rebalance Preview Feb 23: Higher Free Float Means Fewer Changes
  • HSTECH Index Rebalance Preview: Tongcheng Travel (780 HK) Could Replace Ming Yuan Cloud (909 HK)
  • MVIS Global Junior Gold Miners Index Rebalance: Two Adds, Four Deletes, Float Changes
  • MVIS Global Rare Earth/​​Strategic Metals Index Rebalance: Float & Capping Changes
  • Index Rebalance & ETF Flow Recap: ASX, HSTECH, TWDiv+, EPRA Nareit, HSCEI, PCOMP, STAR50, REMX, GDXJ
  • MVIS Australia A-REITs Index Rebalance: Cromwell Property (CMW) Is a Deletion
  • SET50 Index Rebalance: CENTEL, COM7, DELTA, RATCH Added; BLA, IRPC, KCE, SAWAD Out
  • Index Rebalance & ETF Flow Recap: S&P/ASX, HSCEI, HSTECH, Haidilao/Super Hi, CSI REIT
  • Not Sure if Activist Investor’s Agenda Will Be Approved, but JSF’s Value May Be Higher than Expected

S&P/​​​​​ASX Index Rebalance Preview: A Busy March (Maybe January and February Too)

By Brian Freitas

PCOMP Index Rebalance Preview Feb 23: Higher Free Float Means Fewer Changes

By Brian Freitas

HSTECH Index Rebalance Preview: Tongcheng Travel (780 HK) Could Replace Ming Yuan Cloud (909 HK)

By Brian Freitas

MVIS Global Junior Gold Miners Index Rebalance: Two Adds, Four Deletes, Float Changes

By Brian Freitas

MVIS Global Rare Earth/​​Strategic Metals Index Rebalance: Float & Capping Changes

By Brian Freitas

  • As expected, there are no adds or deletes for the MVIS Global Rare Earth/Strategic Metals Index at the December rebalance.
  • There are free float and capping changes that will be implemented at the close on 16 December.
  • One way turnover is estimated at 4.26% and will result in a one-way trade of US$31.5m.

Index Rebalance & ETF Flow Recap: ASX, HSTECH, TWDiv+, EPRA Nareit, HSCEI, PCOMP, STAR50, REMX, GDXJ

By Brian Freitas

MVIS Australia A-REITs Index Rebalance: Cromwell Property (CMW) Is a Deletion

By Brian Freitas

  • Cromwell Property (CMW AU) is a deletion from the MVIS Australia A-REITS Index at the close on 16 December.
  • Passive trackers will need to sell 13.9m shares (5 days ADV) of Cromwell Property (CMW AU) and there appears to be little to no pre-positioning on the stock.
  • There are a few other stocks that will have over 0.5 days of ADV to buy from passive trackers.

SET50 Index Rebalance: CENTEL, COM7, DELTA, RATCH Added; BLA, IRPC, KCE, SAWAD Out

By Brian Freitas

Index Rebalance & ETF Flow Recap: S&P/ASX, HSCEI, HSTECH, Haidilao/Super Hi, CSI REIT

By Brian Freitas

Not Sure if Activist Investor’s Agenda Will Be Approved, but JSF’s Value May Be Higher than Expected

By Aki Matsumoto

  • Companies wouldn’t accept shareholder proposals, interpreting that they need’t disclose individual executive compensation if it’s below certain amount and that they can continue holding policy-shares if the policy is defined.
  • Even if JSF claims to have enhanced corporate governance practices, it is reasonable  for shareholders to demand a review of its management strategy for a company with below average ROE.
  • The company, which doesn’t require very large capital expenditures, plays a role in the infrastructure of the capital market, and has an oligopoly on the market, may be worth more.

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  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Dec 25
0

Daily Brief Health Care: Cardinal Health, Veeva Systems Inc Class A and more

By | Daily Briefs, Healthcare

In today’s briefing:

  • Cardinal Health Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
  • Cardinal Health Inc.: Initiation of Coverage – Positioning In An Oligopolistic Market & Key Drivers
  • Veeva Systems Inc.: Initiation of Coverage – Product Offerings & Key Drivers

Cardinal Health Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Cardinal Health is one of the largest wholesalers within the healthcare domain in the U.S.
  • The company’s recent financial performance has been fairly decent, largely driven by its Pharma segment growth despite managing industry-wide inflationary headwinds.
  • Upstream and Specialty, the company’s third-party logistics business, has been continuing its strong growth new launches.

Cardinal Health Inc.: Initiation of Coverage – Positioning In An Oligopolistic Market & Key Drivers

By Baptista Research

  • This is our first report on Cardinal Health, one of the largest wholesalers within the healthcare domain in the U.S.
  • The company delivered a mixed result in the last quarter surpassing revenue expectations of Wall Street but missing out on earnings.
  • Cardinal delivered higher than its expectations in its Pharma segment despite managing industry-wide inflationary headwinds.

Veeva Systems Inc.: Initiation of Coverage – Product Offerings & Key Drivers

By Baptista Research

  • This is our first report on Veeva Systems, one of the well-known providers of cloud-based software solutions for the global life sciences industry.
  • The fact remains that bulk of the revenue of Veeva is on the application of Veeva Vault.
  • We initiate coverage on the stock of Veeva Systems with a ‘Hold’ rating.

💡 Before it’s here, it’s on Smartkarma

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The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Dec 25
0

Daily Brief Consumer: Bloomberry Resorts, Tjx Companies, Amorepacific Group, Dollar General, Constellation Brands and more

By | Consumer, Daily Briefs

In today’s briefing:

  • Bloomberry Resorts: Flagging the Philippine Casino Market’s Fastest Recovery in All of Asia
  • The TJX Companies Inc.: Initiation of Coverage – Recent Macro & Key Drivers
  • Estimating Fund Size Tracking KOSPI MID Cap Index
  • Dollar General Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
  • Dollar General Corporation: Initiation of Coverage – Business Strategy & Key Drivers
  • Constellation Brands Inc.: Initiation of Coverage – Financial Forecasts
  • Constellation Brands Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Bloomberry Resorts: Flagging the Philippine Casino Market’s Fastest Recovery in All of Asia

By Howard J Klein

  • Last August 13th we urged investors to take a hard look at the spurt in the Philippine gaming market as soon as covid related shutdowns ended. Bloomberry traded at 7.1php.
  • We reiterated our bullish view this past November 13th at 9.7php.
  • Price at writing has fallen back to 7.50 indicates that conviction in the Philippine gaming recovery has not yet been recognized by investors in the space.

The TJX Companies Inc.: Initiation of Coverage – Recent Macro & Key Drivers

By Baptista Research

  • This is our first report on TJX Companies is pleased with its third-quarter performance.
  • The company once more produced solid profitability and a fantastic merchandise margin.
  • We initiate coverage on the stock of The TJX Companies with a ‘Hold’ rating.

Estimating Fund Size Tracking KOSPI MID Cap Index

By Sanghyun Park

  • About ₩3T trillion is presumed to flow from NPS to KOSPI MID. Then, ₩0.8T from local publicly raised funds should be sitting in KOSPI MID. Adding these two alone amounts ₩4T.
  • Of course, this is ACTIVE. In other words, they do not need to proceed with universe changes due to rebalancing at the same pace as ETFs.
  • Nevertheless, we should note that the domestic fund industry does not allow a large gap with BM. Hence, at least ₩4T of funds follow KOSPI MID quite tightly.

Dollar General Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Dollar General Corporation is a major discount retailer operating in the U.S.
  • The company’s business has been impacted by inflation and the ongoing supply chain issues but it has managed a decent comp sales growth and market share growth of both consumable and non-consumable product sales in recent results.
  • This includes challenges within the company’s supply chain, higher inventory shrink and damages, sales mix pressures, and everything that impacted gross margin.

Dollar General Corporation: Initiation of Coverage – Business Strategy & Key Drivers

By Baptista Research

  • This is our first report on major discount retailer, Dollar General Corporation.
  • Its revenue growth was led by comp sales growth and in market share of both consumable and non-consumable product sales.
  • Dollar General, during the quarter, experienced significantly higher cost pressures.

Constellation Brands Inc.: Initiation of Coverage – Financial Forecasts

By Baptista Research

  • This is our first report on Constellation Brands, a dominant player in the international alcoholic beverage market, particularly the Mexican beer space.
  • The buy rate increased in the quarter for both total wine categories and high-end beer in tracked channels.
  • The beer business of the company remained well placed that continues to support the steady growth of the brands.

Constellation Brands Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

By Baptista Research

  • Constellation Brands is a major player in the international alcoholic beverage market, particularly the Mexican beer space.
  • The beer business of the company is well placed that continues to support the steady growth of the brands.
  • Among other developments, Constellation Brands has recently reached a pact with The Wine Growth to divest a portion of the company’s premium and mainstream wine portfolio.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free