Smartkarma Daily Briefs

• Amer Sports (AS US) is a global iconic sports and outdoor brand group. According to press reports, it has filed for a NYSE IPO to raise at least US$1 billion.
• We previously discussed the IPO in Amer Sports IPO: The Bull Case and Amer Sports IPO: The Bear Case.
• In this note, we present our forecasts and take the first look at Amer’s potential valuation range.

• Geopolitical risk has driven a resurgence in gold with price 1.5% higher following heightened tensions in the middle-east. 
• In a soft-landing scenario in 2024, gold faces downside risk from investor rotation to other assets.  
• Options metrics point to bullish positioning in gold, central bank demand remains a strong driver in H2 2023.

• Total impairment costs are soaring now at Citigroup up to USD3.5bn in 4Q23 compared with an average charge of USD1.8-1.9bn in the recent preceding quarters.
• Net interest income appears to be topping out now, as there is generally a lagged impact on funding in a rising rate environment.
• The implications of the Citi results, steeped in geopolitical risk, are not positive for large global banks, major US banks in particular and HSBC Holdings (5 HK) specifically.

Key points (machine generated)

• Mohawk Industries has a stock price of $80 per share, and despite a decline in the global construction market, the company has a strong market position and is considered a medium+ quality business.
• The current valuation at 8 times EBIT is seen as an attractive entry point, with expectations for EBIT in 2024 already lowered but still indicating a promising earnings power of $10-14 net income per share in the medium term.
• Mohawk Industries is seen as a cheap investment opportunity with significant growth potential in the future, and previous VIC notes have highlighted its potential. Readers are recommended to review the analyses provided by dsteiner84, Value1929, and Glory_Warriors.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)

• Tyson denies any involvement in illegal activities and believes the allegations made against it are baseless.
• The company is committed to defending itself and operating in compliance with all laws and regulations.
• The investigation into alleged collusion and price-fixing in the chicken industry is ongoing and the outcome is uncertain.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Investing into cannabis stocks has been a soul-crushing experience for investors over the past 10 years.
• Check out the performance of the Global Cannabis Stock Index below.
• It’s effectively a complete wipe-out.

• In the evolving landscape of isotope production, ASP Isotopes stands poised for significant growth.
• With production scalability and a substantial interest backlog, ASP Isotopes is on the cusp of substantial free cash flow realization in 2024.
• Currently undervalued, the stock presents a rare opportunity for early investors to capitalize on ASP Isotopes’ anticipated market ascendancy and potential to redefine secure isotope supply chains globally.

Key points (machine generated)

• Significant investment in insurance companies, particularly niche providers, has been seen since the Covid pandemic.
• The S&P Insurance ETF has outperformed the SPY by 25% over the past 3 years, indicating the success of these investments.
• Despite their growth in intrinsic value, the share prices of many insurance companies are not reflecting this, possibly due to overlooking the potential impact of higher interest rates on future profitability. However, some companies have managed their investment portfolios prudently and are in a favorable position.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Flexsteel led the news in the furniture and furnishings industry last week with a positive preannouncement.
• The company said 2QFY24 EPS will be $0.57 versus preannouncement consensus of $0.27.
• Sales are expected to hit $100 million in the quarter, ahead of the preannouncement consensus of $96 million.