European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

JD.com and Elliott Interested in Unloved Currys

Currys - PBT guidance 6% ahead of consensus

Event-Driven

<ul>
<li>Neither Elliot nor <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (9618 HK)</a> intend to pursue <a href="https://www.smartkarma.com/entities/currys-plc" target="_blank" data-smartkarma-citation="entities:21892:1" rel="noopener">Currys PLC (CURY LN)</a> at this stage and thus won't be able to present an offer for the next six months.</li>
<li>Currys has issued an upbeat trading update. My new TP is 78p/share, &gt;16% above Elliot's sweetened offer, 10.4x 24e P/E vs 7.6x currently, and 9.1x 25e P/E vs 6.6x currently.</li>
<li>My TP implied equity value is 864 million. I believe the Board and top shareholders would be willing to consider offers around 80p.</li>
</ul>


Neither Elliot nor JD.com (9618 HK) intend to pursue Currys PLC (CURY LN) at this stage and thus won't be able to present an offer for the next six months.
Currys has issued an upbeat trading update. My new TP is 78p/share, &gt;16% above Elliot's sweetened offer, 10.4x 24e P/E vs 7.6x currently, and 9.1x 25e P/E vs 6.6x currently.
My TP implied equity value is 864 million. I believe the Board and top shareholders would be willing to consider offers around 80p.


Currys Lifts Profit Outlook After Suitors Walk Away