We have updated our view of Elbit Systems, accounting for the impact of IMI Systems and new announced orders on operating leverage and non-GAAP EPS. We hit on the key points that we believe will move the stock in 2018 based on how the stock has historically traded. Attached is an updated 13-page powerpoint presentation on the key issues that will affect Elbit’s adjusted EPS and valuation. All subscribers can access our full financial model. While our target is $130, but we see upside up to $134 based on 20x our 2019 non-GAAP EPS of $6.72. We believe upside is […]
Monthly Archives: June 2018
4 posts
We have updated our 19-slide Shopify Powerpoint Pitch in which we examine the major sticky points in Shopify’s product relative to peers, Shopify’s real TAM and market share, investor expectations, relative subscriber valuations, and other unique issues that are typically overlooked by brokers.
We have outlined overlooked issues on Spotify (SPOT-NYSE) in 20 easy to follow (or pitch) slides. These slides include: – Subscriber valuation graphs, correlations and tables – Tracking of Global top streams and their relationship with Premium Subscribers – How different plans, regions and promotions affect ARPU – Revenues for both the music and digital music industries – Financial forecasts on a number of metrics – Comparable metric comparison versus Pandora – Subscriber Comparable tables with Netflix, SiriusXM, Pandora and Spotify – Stock Recommendations
We have completed a holistic overview of Canada’s recreational cannabis market. Based primarily on data from Colorado as well as taking into account capacity increases from Canada’s lowest-cost producer, we have a materially different assumption on future market prices and demand. Attached is our overview of the industry. All graphs used are sourced from either the State of Colorado, BDS, Provincial government press releases or BDS Analytics.