In today’s briefing:
- LG CNS: Updated IPO Valuation Analysis
- Tech Supply Chain Tracker (04-Jan-2025): AI agents: helper or threat?
- SSI’s 2024 Review: Portfolio Underperformance, Event-Driven Strategies, and Lessons from Losses
- IPG Photonics: Can Its Welding Solutions Expansion Bring A Shift In The Competitive Dynamics? – Major Drivers
LG CNS: Updated IPO Valuation Analysis
- According to our updated valuation analysis of LG CNS, it suggests a base case implied market cap of 7.4 trillion won, representing target price of 76,383 won per share.
- Our base case valuation target price of 76,383 won is 23% higher than the high end of the IPO price range.
- We lowered our target price by 6%, mainly due to greater political risks arising from the recent cancelled martial law and ongoing impeachment of President Yoon.
Tech Supply Chain Tracker (04-Jan-2025): AI agents: helper or threat?
- AI agents are becoming more powerful assistants but need careful management to avoid potential risks.
- Honor is preparing for an IPO with corporate restructuring and rebranding efforts.
- Taiwan tightens restrictions on tech exports to China while the US considers banning Chinese drones like DJI.
SSI’s 2024 Review: Portfolio Underperformance, Event-Driven Strategies, and Lessons from Losses
- SSI’s Tracking Portfolio ended 2024 with a -1% return, hindered by cash holdings and significant losses in MSTR, BHIL, and BOOM.
- SSI shared 85 investment ideas in 2024, including 14 Portfolio Ideas, 69 Quick Pitches, and 2 “Why I’m Not Involved” overviews.
- Portfolio Ideas suffered losses over 50% due to ignored red flags, while Quick Pitches had a 60% win rate.
IPG Photonics: Can Its Welding Solutions Expansion Bring A Shift In The Competitive Dynamics? – Major Drivers
- IPG Photonics’ recent earnings for the third quarter of 2024 highlighted several key developments, financial metrics, and strategic initiatives that offer insights into the company’s current position and future prospects.
- The revenue for the quarter was $233 million, marking a significant year-over-year decline of 23% and an 8% decrease sequentially when adjusted for the sale of its Russian operations.
- Despite this, adjusted earnings per share were at the top end of the guidance, reflecting some operational resilience amid a challenging demand environment.
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