In today’s briefing:
- Bikaji Foods IPO Lock-Up – Small Expiry with a Chance to Lift the Overhang
- Southern Copper Corporation: The Best Copper Stock To Own? – Key Drivers
- The Boeing Company: Acquisition Of CloudAhoy & Other Developments
- Waste Management Inc.: Cleaning Up With Its Pricing Strategy – Key Drivers
Bikaji Foods IPO Lock-Up – Small Expiry with a Chance to Lift the Overhang
- Bikaji Foods (BIKAJI IN), an ethnic snacks company, raised approximately US$107m in its India IPO. The stock was listed on 16th Nov 2022, its six-month lockup will expire soon.
- Bikaji was the third largest ethnic snacks company in India and the second fastest growing company in the Indian organized snacks market in FY22, as per Frost & Sullivan (F&S).
- In this note, we will talk about the lock-up dynamics and updates since our last note.
Southern Copper Corporation: The Best Copper Stock To Own? – Key Drivers
- Southern Copper Corporation had a great quarter despite several economic difficulties and managed an all-around beat.
- The company’s other open pit operations reported a decrease in annual copper production, with the exception of the Buenavista operation, where production levels were higher than those in 2021.
- We give Southern Copper Corporation a ‘Hold’ rating with a revised target price.
The Boeing Company: Acquisition Of CloudAhoy & Other Developments
- After a series of bad results, Boeing managed a mixed quarter to start the year as its revenues were above Wall Street expectations though company reported wider-than-expected losses.
- However, Boeing still expects to deliver 450 737 airplanes this year and plans to increase its rate to 38 per month later this year.
- The company also delivered 130 commercial airplanes in the quarter, steadily increasing rates across critical programs to meet robust demand.
Waste Management Inc.: Cleaning Up With Its Pricing Strategy – Key Drivers
- Waste Management is off to a good start in 2023, with first-quarter performance exceeding analyst expectations.
- Collection and disposal volume also increased by 0.8% in the first quarter.
- Waste Management believes it is poised for another year of robust financial growth in 2023.
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