In today’s briefing:
- Adoption of Digital Textbooks (Korea in 2025 & Japan in 2024)
- Carnival: Its Recovery Program Is Already Priced In
- Hang Seng and MSCI China Bottoming — Add; Europe Still Leading; Shift From U.S. To Non-U.S.
- MasterCraft: Significantly Undervalued With Secular Growth Prospects
Adoption of Digital Textbooks (Korea in 2025 & Japan in 2024)
- The Korean Department of Education announced on 5 January that Korea will start to adopt customized digital school textbooks starting 2025.
- These 11 Korean stocks that are well positioned to capitalize on the digital textbooks are up on average 5.3% YTD, strongly outperforming KOSPI which is up 2.4% YTD.
- Japan is implementing the adoption of digital textbooks in elementary, junior, and high schools starting in 2024, ahead of Korea.
Carnival: Its Recovery Program Is Already Priced In
- The company’s year-over-year revenue has surged by more than 1.98x.
- Carnival remains far adrift from its midpoint profit margins and has a sizeable corporate bond to service.
- A residual income valuation model places a fair value of $9.91 on the stock, placing it in fair value territory.
Hang Seng and MSCI China Bottoming — Add; Europe Still Leading; Shift From U.S. To Non-U.S.
- We remain neutral on global equities (MSCI ACWI), we believe upside remains limited with the MSCI ACWI (ACWI-US), S&P 500, and several European indexes still below major resistance.
- We continue to expect rangebound price action in the months ahead on the MSCI ACWI.
- And, rangebound price action could very well be the theme for all of 2023 (with resistance at $93 and support at $75-77 on ACWI-US)
MasterCraft: Significantly Undervalued With Secular Growth Prospects
- Are you interested in consumer cyclical and industrial stocks while being worried about the macroeconomic outlook? Well, if you are, then MasterCraft (NASDAQ:MCFT) should be on your watchlist.
- MasterCraft could part itself from the rest of the consumer cyclical segment during a trying macroeconomic environment.
- The company’s Veblen good status and low debt burden could protect one’s portfolio against macro headwinds.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
