In today’s briefing:
- Cafe De Coral (341): Start to Show Positive Result
- Japan Tobacco High Conviction Update: Guidance Has Upside Potential, The Market Is Pass Russia Fears
- Snap 3Q22: Tik Tik Tik (Tok) …BOOM
Cafe De Coral (341): Start to Show Positive Result
- The share price was beaten down during COVID thanks to the lockdown and further restrictive policy.
- The recent result has been encouraging especially with the loosening of the restrictive measures.
- Cafe De Coral Holdings (341 HK) is trading at a deep discount to its peers.
Japan Tobacco High Conviction Update: Guidance Has Upside Potential, The Market Is Pass Russia Fears
- Just eight months into Russia’s Ukraine invasion, Japan Tobacco (2914 JP)’s share price has moved back above the pre-Ukraine invasion level suggesting that investors are over with Russia exposure fears.
- Based on the company’s guidance upgrade trend historically and YTD financial performance, we are expecting around ¥70bn upside to 2022 OP guidance in 3Q22.
- With earnings back on a growth trajectory, we are expecting a reversal of the 2017-21 share price to earnings trend to take Japan Tobacco shares over ¥3,500 in the short-term.
Snap 3Q22: Tik Tik Tik (Tok) …BOOM
- How long until SNAP gets back to Zuck’s original $3B buyout offer?!
- Key negative point: US engagement dropped 5% despite user growth +4%…we think its BeReal as much as TikTok.
- Uninvestable or Long Time Horizon? Least visibility of any major public company we’ve ever followed. Don’t know the answer!
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