In today’s briefing:
- Bloomberry Resorts: Flagging the Philippine Casino Market’s Fastest Recovery in All of Asia
- The TJX Companies Inc.: Initiation of Coverage – Recent Macro & Key Drivers
- Constellation Brands Inc.: Initiation of Coverage – Financial Forecasts
- CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers
- Dollar General Corporation: Initiation of Coverage – Business Strategy & Key Drivers
- Roblox Corporation: Initiation of Coverage – Business Strategy & Key Drivers
- Take-Two Interactive Software Inc.: Initiation of Coverage – Adapting To An Evolving Business Environment & Key Drivers
- Albemarle Corporation: Initiation of Coverage – Financial Forecasts
- Veeva Systems Inc.: Initiation of Coverage – Product Offerings & Key Drivers
- Cardinal Health Inc.: Initiation of Coverage – Positioning In An Oligopolistic Market & Key Drivers
Bloomberry Resorts: Flagging the Philippine Casino Market’s Fastest Recovery in All of Asia
- Last August 13th we urged investors to take a hard look at the spurt in the Philippine gaming market as soon as covid related shutdowns ended. Bloomberry traded at 7.1php.
- We reiterated our bullish view this past November 13th at 9.7php.
- Price at writing has fallen back to 7.50 indicates that conviction in the Philippine gaming recovery has not yet been recognized by investors in the space.
The TJX Companies Inc.: Initiation of Coverage – Recent Macro & Key Drivers
- This is our first report on TJX Companies is pleased with its third-quarter performance.
- The company once more produced solid profitability and a fantastic merchandise margin.
- We initiate coverage on the stock of The TJX Companies with a ‘Hold’ rating.
Constellation Brands Inc.: Initiation of Coverage – Financial Forecasts
- This is our first report on Constellation Brands, a dominant player in the international alcoholic beverage market, particularly the Mexican beer space.
- The buy rate increased in the quarter for both total wine categories and high-end beer in tracked channels.
- The beer business of the company remained well placed that continues to support the steady growth of the brands.
CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers
- This is our first report on CSX, one of the largest providers of rail-based freight transportation services in the United States.
- Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.
- We also have a dedicated analysis of the company’s Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.
Dollar General Corporation: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on major discount retailer, Dollar General Corporation.
- Its revenue growth was led by comp sales growth and in market share of both consumable and non-consumable product sales.
- Dollar General, during the quarter, experienced significantly higher cost pressures.
Roblox Corporation: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on Roblox, one of the most popular online entertainment and gaming platforms in the U.S. that is gradually spreading its wings across the world.
- Their DAUs were 58.8 million in Q3 on a DAU basis, a 24% growth from the same quarter last year.
- It is a fact that Roblox continues to face challenging comparisons especially with the last year and the pandemic times.
Take-Two Interactive Software Inc.: Initiation of Coverage – Adapting To An Evolving Business Environment & Key Drivers
- This is our first report on Take-Two Interactive Software, a well-known developer, publisher, and marketer of games and interactive entertainment for consumers across the globe.
- The company delivered a disappointing result in the past quarter failing to meet Wall Street expectations in terms of revenues as well as earnings.
- We initiate coverage on the stock of Take-Two Interactive Software with a ‘Buy’ rating.
Albemarle Corporation: Initiation of Coverage – Financial Forecasts
- This is our first report on Albemarle Corporation, one of the largest producers of lithium, bromine, and other related specialty chemicals across the globe.
- The strong performance for its lithium segment was driven by higher volumes and higher realized pricing.
- Albemarle is realigning its core bromine and lithium businesses to energy specialties and storage and expects it to be effective next month.
Veeva Systems Inc.: Initiation of Coverage – Product Offerings & Key Drivers
- This is our first report on Veeva Systems, one of the well-known providers of cloud-based software solutions for the global life sciences industry.
- The fact remains that bulk of the revenue of Veeva is on the application of Veeva Vault.
- We initiate coverage on the stock of Veeva Systems with a ‘Hold’ rating.
Cardinal Health Inc.: Initiation of Coverage – Positioning In An Oligopolistic Market & Key Drivers
- This is our first report on Cardinal Health, one of the largest wholesalers within the healthcare domain in the U.S.
- The company delivered a mixed result in the last quarter surpassing revenue expectations of Wall Street but missing out on earnings.
- Cardinal delivered higher than its expectations in its Pharma segment despite managing industry-wide inflationary headwinds.
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