In today’s briefing:
- Warrego (WGO AU): Has MinRes Gatecrashed the Party?
- More Downside to Lead to Buying Opportunity?; Buy Ideas in Consumer Staples, EU Banks, Gold Miners
- Air Products and Chemicals Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Air Products and Chemicals Inc.: Initiation of Coverage – Business Strategy & Key Drivers
- Sibanye: Production To Ramp Up, Valuation Remains A Concern
Warrego (WGO AU): Has MinRes Gatecrashed the Party?
- The AFR reports that Mineral Resources (MIN AU) was the buyer of 15% of outstanding shares at A$0.35, 25.0% above Hancock and 4.5% above Strike Energy (STX AU)’s offer.
- MinRes’ move is motivated by the desire to have a say in the recent Perth Basin consolidation. It recently lobbed an all-scrip takeover offer for Norwest Energy NL (NWE AU).
- Warrego Energy (WGO AU)‘s three largest shareholders are now the three suitors. The emergence of MinRes (if confirmed) suggests that the takeover battle is far from done.
More Downside to Lead to Buying Opportunity?; Buy Ideas in Consumer Staples, EU Banks, Gold Miners
- Market dynamics remain largely bearish/unchanged, and we are sticking with our call that breaks of supports on SPX, IWM,QQQ are likely to result in a test of the 2022 lows.
- The Nasdaq 100 (QQQ) is already testing its 2022 lows, but the S&P 500 and Russell 2000 (IWM) are still 6-9% above their 2022 lows.
- Depending on how the market responds to its 2022 lows, that could be a better area to increase risk.
Air Products and Chemicals Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Air Products and Chemicals is a behemoth in the industrial gases domain and is the third-largest industrial gas supplier in the world.
- The company has had a decent financial performance off-late as all its regions have seen a gradual improvement in price and volume.
- These initiatives support the company’s energy transition plan and will continue to be a significant source of revenue for it in the future.
Air Products and Chemicals Inc.: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on industrial gases major, Air Products and Chemicals.
- The company delivered an impressive result in the last quarter, surpassing Wall Street expectations in terms of revenues as well as earnings per share.
- We initiate coverage on the stock of Air Products and Chemicals, Inc. with a ‘Hold’ rating.
Sibanye: Production To Ramp Up, Valuation Remains A Concern
- The firm’s 7.75% dividend yield could escalate should production ramp up.
- However, a monthly Var5% of 24.73% could overshadow any income-based prospects.
- Sibanye’s operations to recover sharply in 2023 with its U.S. PGM back online and South African wage deals being settled.
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