In today’s briefing:
- Futu Holdings: Cross-Border Broking In Crosshairs
- 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
- Zoetis Inc.: Initiation of Coverage – The Jurox Acquisition & Key Drivers
- Air Products and Chemicals Inc.: Initiation of Coverage – Business Strategy & Key Drivers
- Sprott Focus Trust: An Incredibly Well-Managed Cyclical Fund
- Zoetis Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- DexCom Inc.: Initiation of Coverage – Business Strategy & Key Drivers
Futu Holdings: Cross-Border Broking In Crosshairs
- Just one day ahead of its dual primary listing in Hong Kong, Futu Holdings Ltd (FUTU US) postponed its Listing by Introduction.
- According to the China Securities Regulatory Commission, Futu has been illegally operating cross-border securities trading without approval.
- Suitably, the share prices of Futu and UP Fintech (TIGR US), another online brokerage forced to quit accepting new onshore investors. It’s probably too premature to buy the dip.
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.
Zoetis Inc.: Initiation of Coverage – The Jurox Acquisition & Key Drivers
- This is our first report on animal health pharma major, Zoetis.
- Despite the world’s volatile external environment and economic unpredictability, Zoetis has performed well from a financial standpoint given to its varied durable portfolio and global reach.
- It delivered a 5% operating revenue increase in Q3, which reflected a decent yet below-par performance across its range of innovation-driven companion animal products, particularly in its overseas markets.
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.
Sprott Focus Trust: An Incredibly Well-Managed Cyclical Fund
- The Sprott Focus Trust exhibits outstanding risk attribution metrics.
- The fund’s constituents typically host high earnings yields, and ROIC ratios, suggesting that a value trap is unlikely.
- This is a high-conviction closed-end fund with little emphasis on sector rotation. Thus, beware of recession risk.
Zoetis Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Zoetis Inc is a well-known animal health pharma company.
- Besides, their pet care products are increasingly helping to fuel growth in some of their biggest markets, like China and Australia.
- The management also expects a high global demand for novel goods, particularly in companion animal parasiticides, dermatology, vaccines, diagnostics, and monoclonal antibodies for pain.
DexCom Inc.: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on medical device major, DexCom.
- Although DexCom anticipates that these primary care connections will be crucial to its long-term consumer goals, they also enable the company to serve the nation’s extensive insulin users.
- In addition, DexCom carried out its previously disclosed accelerated share repurchase program, buying roughly 550 million outstanding shares.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
