In today’s briefing:
- Keisei Electric Rail (9009): For Relative Value Trade
- Premier Energies Ltd IPO- Forensic Analysis
- Matthews Intl Corp -Cl A (MATW) – Tuesday, Jan 30, 2024
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Keisei Electric Rail (9009): For Relative Value Trade
- The activist investor is back and has demanded further action to unlock value from Keisei Electric Railway Co (9009 JP) management.
- Operational numbers are still healthy, but growth is not as large due to the high base.
- Immediate pressure to divest Oriental Land thus short Oriental Land (4661 JP) and long Keisei.
Premier Energies Ltd IPO- Forensic Analysis
- Premier Energies Limited (0377949D IN) is into manufacturing of solar cells and modules. The company is the second largest integrated player (cell+module) in India with a market share of 28%
- The business has picked up in the last two years. Revenues, order book and capacities have increased and margins have also seen improvement.
- However, the company is struggling on cash conversion on the back of highly levered balance sheet. Focus should also be on few questionable related party transactions.
Matthews Intl Corp -Cl A (MATW) – Tuesday, Jan 30, 2024
- Matthews International is an undervalued diversified industrial company
- The potential IPO of its machinery segment for dry battery electrodes could unlock value
- The Industrial Technology segment, with Tesla as a customer, has significant potential for growth and value creation
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.