In today’s briefing:
- Pre-Positioning Targeting Solactive Global Lithium Index’s October Rebalancing
- $SPX 4165-4200 in Play; WTI Crude Testing $82 Resistance; Buys in Gold Miners, Waste Services
- The Oil Price Low May Finally Be Here
- Masco Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
- Insulet Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
- Insulet Corporation: Initiation of Coverage – Business Strategy & Key Drivers
- Archer-Daniels-Midland Company: Initiation of Coverage – Acquisitions & Other Key Drivers
- Masco Corporation: Initiation of Coverage – Business Strategy & Key Developments
- Pegasystems Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report, Key Risks (03/23)
- Pegasystems Inc.: Initiation of Coverage – Process Mining Related Acquisitions & Other Key Drivers
Pre-Positioning Targeting Solactive Global Lithium Index’s October Rebalancing
- LG Energy Solution and Samsung SDI will remain in the index as top stocks of pack makers, respectively. Ecopro BM will almost certainly replace L&F in the category of Cathode.
- SK IE Technology will newly join the index with Separator’s top stock. On the other hand, Lotte Energy Materials and SKC are unlikely to be included.
- This event can be a critical inflection point in predicting the counter-flow for short positions against Ecopro BM and L&F in advance.
$SPX 4165-4200 in Play; WTI Crude Testing $82 Resistance; Buys in Gold Miners, Waste Services
- On 3/21/23 we discussed the potential for a 2-5% rally to the 1.5-month downtrend on the SPX, or the 4165-4200 range, which would set up an opportunity to get defensive.
- The S&P 500 has gained 4.5% since, but has reversed topside the downtrend, putting a test of 4165-4200 in play.
- We still believe 4165-4200 will cap upside in 2023 — with a reach to 4300-4325 also possible — but considering limited upside, we recommend shifting toward defensives.
The Oil Price Low May Finally Be Here
- A surprise OPEC cut has sent oil prices higher, a surprise cut could leave the SPR depleted.
- An oil surge could see lower growth and a return to inflation, an oil surge.
- A return toflation could be seen in the future, according to a report by the U.S. Department of Energy.
Masco Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
- Masco Corporation is a major player involved in the design, manufacture and distribution of home improvement and building products.
- Over the year, DIY paint saw low single-digit growth which has impacted their growth.
- Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.
Insulet Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report
- Insulet Corporation is a med-tech company and one of the largest insulin delivery systems providers in the world.
- Their Omnipod 5 Automated Insulin Delivery System’s complete commercial introduction in 2022 was a major accomplishment.
- Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.
Insulet Corporation: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on a Insulet Corporation, one of the largest insulin delivery systems providers in the world.
- Their Omnipod 5 Automated Insulin Delivery System’s complete commercial introduction in 2022 was a major accomplishment.
- We initiate coverage on the stock of Insulet Corporation with a ‘Hold’ rating.
Archer-Daniels-Midland Company: Initiation of Coverage – Acquisitions & Other Key Drivers
- This is our first report on global food processing giant, Archer-Daniels-Midland.
- Low water conditions limited North American export volumes, which were largely offset by a strong performance by the South American business.
- The North American business produced excellent volumes and margins in both starches and sweeteners, slightly offsetting decreased ethanol margins.
Masco Corporation: Initiation of Coverage – Business Strategy & Key Developments
- This is our first report on Masco Corporation, a major global player involved in the design, manufacture and distribution of home improvement and building products.
- Plumbing increased by 2% in local currency, with a 7% increase in overseas plumbing offsetting a 1% fall in North American plumbing.
- Over the year, DIY paint saw low single-digit growth, while professional paint saw over 25% growth.
Pegasystems Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report, Key Risks (03/23)
- Pegasystems Inc is a major player in the enterprise software fomain.
- Pega Cloud innovation has sped up adoption, and they have made great strides toward modernizing its clients.
- Our credit report caters to all forms of stakeholders, particularly lenders and fixed income or yield investors in the company.
Pegasystems Inc.: Initiation of Coverage – Process Mining Related Acquisitions & Other Key Drivers
- This is our first report on the American software giant, Pegasystems Inc.
- The company ended 2022 on a positive note with an all-around beat and a 16% ACV growth.
- Pega Cloud innovation has sped up adoption, and they have made great strides toward modernizing its clients.
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