In today’s briefing:
- The TJX Companies Inc.: Initiation of Coverage – Recent Macro & Key Drivers
- Albemarle Corporation: Initiation of Coverage – Financial Forecasts
- Cardinal Health Inc.: Initiation of Coverage – Positioning In An Oligopolistic Market & Key Drivers
- Cardinal Health Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Constellation Brands Inc.: Initiation of Coverage – Financial Forecasts
- Constellation Brands Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers
- CSX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
- Dollar General Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
- Dollar General Corporation: Initiation of Coverage – Business Strategy & Key Drivers
The TJX Companies Inc.: Initiation of Coverage – Recent Macro & Key Drivers
- 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.
Albemarle Corporation: Initiation of Coverage – Financial Forecasts
- 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.
Cardinal Health Inc.: Initiation of Coverage – Positioning In An Oligopolistic Market & Key Drivers
- 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.
Cardinal Health Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- 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.: Initiation of Coverage – Financial Forecasts
- 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
- 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: Initiation of Coverage – Business Strategy & Other Drivers
- 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
- 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
- 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
- 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.
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