Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

Melrose Industries’ impressive H1 performance demonstrates the strength of the business, assisted by aftermarket exposure, given the current supply chain issues in the aerospace sector. A new buyback programme and investment in future organic growth, along with positive market dynamics, offer further positive earnings drivers through the medium term.

Melrose Industries’ impressive H1 performance demonstrates the strength of the business, assisted by aftermarket exposure, given the current supply chain issues in the aerospace sector. A new buyback programme and investment in future organic growth, along with positive market dynamics, offer further positive earnings drivers through the medium term.

Melrose Industries - Positive progress continues

The crystallisation of the employee plan highlights the value created through the GKN acquisition, benefiting from the strong performance from the restructuring programme and current positive trends in the aerospace sector. The impact of the scheme on our forecasts will be limited, having already assumed the full value the scheme would accrue. There are no changes to our valuation of 654p per share as set out in our previous note.

The crystallisation of the employee plan highlights the value created through the GKN acquisition, benefiting from the strong performance from the restructuring programme and current positive trends in the aerospace sector. The impact of the scheme on our forecasts will be limited, having already assumed the full value the scheme would accrue. There are no changes to our valuation of 654p per share as set out in our previous note.

Melrose Industries - Crystallisation of the 2020 Employee Share Plan

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>In this insight, we take a look at the potential index changes for F100 and F250 in the run up to the June 2023 Rebalance.</li>
<li>Based on latest prices, there could be one change for F100 and four changes in F250 between now and the June 2023 Rebalance including <a href="https://www.smartkarma.com/entities/al-noor-hospitals-group-plc" target="_blank" data-smartkarma-citation="entities:21813:1" rel="noopener">Mediclinic International (MDC LN)</a>'s intra-review change. </li>
<li>Many of the high-ranked F250 potential additions could have very high impact according to our estimates.</li>
</ul>


In this insight, we take a look at the potential index changes for F100 and F250 in the run up to the June 2023 Rebalance.
Based on latest prices, there could be one change for F100 and four changes in F250 between now and the June 2023 Rebalance including Mediclinic International (MDC LN)'s intra-review change. 
Many of the high-ranked F250 potential additions could have very high impact according to our estimates.


Quiddity Leaderboard for UK F100/​​250 June 23: 20+ Days to Buy for Top-Ranked F250 Potential ADDs

Melrose has a proven track record for creating shareholder value through its ‘buy, improve, sell’ model. Focus on financial returns and close management alignment with shareholders ensures tight discipline in the acquisition and disposal phase to combine with the key value enhancement achieved in the improvement phase of the strategy. The circularity of the model provides clarity: monies are raised to finance individual transactions with the disposal proceeds subsequently returned.

Melrose has a proven track record for creating shareholder value through its ‘buy, improve, sell’ model. Focus on financial returns and close management alignment with shareholders ensures tight discipline in the acquisition and disposal phase to combine with the key value enhancement achieved in the improvement phase of the strategy. The circularity of the model provides clarity: monies are raised to finance individual transactions with the disposal proceeds subsequently returned.


Melrose Industries - A proven, high-value creation model

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Our bullish outlook continues to be supported by ongoing positive market dynamics and the absence of breakdowns for major indexes around the globe. The path of least resistance remains higher and we continue to believe a melt-up is likely in the weeks/months ahead. The global Technology, Discretionary, and Manufacturing Sectors remain leadership -- add exposure/remain overweight. The Financial Sector has been playing catch-up and continues to show signs of price and RS bottoms as expectations rise for a global recovery -- add exposure.

Our bullish outlook continues to be supported by ongoing positive market dynamics and the absence of breakdowns for major indexes around the globe. The path of least resistance remains higher and we continue to believe a melt-up is likely in the weeks/months ahead. The global Technology, Discretionary, and Manufacturing Sectors remain leadership -- add exposure/remain overweight. The Financial Sector has been playing catch-up and continues to show signs of price and RS bottoms as expectations rise for a global recovery -- add exposure.

Global Equity Strategy: Santa Claus Rally Underway

United Kingdom

Melrose Industries PLC operates as a global aerospace business. The Company acquires and holds securities of under performing businesses primarily in the manufacturing sector.

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Melrose Industries (MRO LN)

Melrose Industries - Positive progress continues

Melrose Industries’ impressive H1 performance demonstrates the strength of the business, assisted by aftermarket exposure, given the current supply...

Edison Investment Research

Quiddity Leaderboard for UK F100/250 June 23: 20+ Days to Buy for Top-Ranked F250 Potential ADDs

On average, there could be around 20 days of volume to buy for the top four F250 potential ADDs according to our estimates and I see a decent...

Janaghan Jeyakumar, CFA

Melrose Industries - A proven, high-value creation model

Melrose has a proven track record for creating shareholder value through its ‘buy, improve, sell’ model. Focus on financial returns and close...

Edison Investment Research

Global Equity Strategy: Santa Claus Rally Underway

Our bullish outlook continues to be supported by ongoing positive market dynamics and the absence of breakdowns across indexes, and we continue to...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Melrose Industries - Positive progress continues

Melrose Industries’ impressive H1 performance demonstrates the strength of the business, assisted by aftermarket exposure, given the current supply...

Edison Investment Research

Melrose Industries - Crystallisation of the 2020 Employee Share Plan

The crystallisation of the employee plan highlights the value created through the GKN acquisition, benefiting from the strong performance from the...

Edison Investment Research

Quiddity Leaderboard for UK F100/​​250 June 23: 20+ Days to Buy for Top-Ranked F250 Potential ADDs

On average, there could be around 20 days of volume to buy for the top four F250 potential ADDs according to our estimates and I see a decent...

Janaghan Jeyakumar, CFA

Melrose Industries - A proven, high-value creation model

Melrose has a proven track record for creating shareholder value through its ‘buy, improve, sell’ model. Focus on financial returns and close...

Edison Investment Research

Global Equity Strategy: Santa Claus Rally Underway

Our bullish outlook continues to be supported by ongoing positive market dynamics and the absence of breakdowns across indexes, and we continue to...

Vermilion Research

Quiddity Leaderboard for UK F100/250 June 23: 20+ Days to Buy for Top-Ranked F250 Potential ADDs