No-Moat Santos' 4Q Impresses but Australian Dollar Strength Negates Gains
We make no change to our AUD 5.75 per share fair value estimate for Santos Ltd (STO AU), and our 2017 and 2018 EPS forecasts are similarly little...
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Notes from the Silk Road: Setting Out Our Small-Mid Cap Lemonade Stand
Our Independent Lemonade stand approachIn 1973, Bob Jamison introduced his business simulation game in which choices are made by a player regarding...
309 Views
CERCG Formalises a AUD 0.73 Cash Bid for AWE. We Recommend Shareholders Take No Action Just Yet
China Energy Reserve and Chemical Group, or CERCG, has announced an all-cash AUD 0.73 takeover offer for AWE. The price represents a 36.8% premium...
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Market Undervalues Woodside's Optionality
We think no-moat-rated Woodside Petroleum Ltd (WPL AU) is 20% undervalued, and rate it the best value of the three large Australian exploration and...
116 Views
Last Week in Event SPACE – Santos, Qualcomm, Wharf, Sina, AVIC
Last week, the future's a gas as Harbour Energy circles Santos Ltd (STO AU); proxies to take up the fight as Qualcomm Inc (QCOM US) predictably...
203 Views