BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Independent Stock Specific Research

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Equity Bottom-Up

<ul type="disc"><li>We are initiating coverage of Garrett Motion (GTX) with a Buy Rating and $15 target.</li></ul> <ul type="disc"><li>
Garrett Motion (GTX, GTXAP) has emerged from bankruptcy protection with fewer distractions and focus on growing market share in turbochargers for automobiles.</li></ul> <ul type="disc"><li>GTX filed for Chapter 11 bankruptcy to settle outstanding asbestos claims that were part of a business Honeywell (HON) owned but was part of the GTX spin-off. GTX no longer has such indemnity exposure and has a simplified agreement in paying HON.</li></ul> <ul type="disc"><li>Continued growth in gasoline turbochargers creates a catalyst for sales growth over the next three years.</li></ul> <ul type="disc"><li>GTX’s development of its e-turbo turbocharger and fuel cell compressor gives GTX exposure to hybrid and fuel cell vehicles solidifying a long runway to grow sales beyond gasoline and diesel.</li></ul> <ul type="disc"><li>GTX’s stock is trading at a discount to peers and where the shares were prior to its financial issues even though the sales growth is likely to have linear characteristics for the next couple years.</li></ul>

We are initiating coverage of Garrett Motion (GTX) with a Buy Rating and $15 target. 
Garrett Motion (GTX, GTXAP) has emerged from bankruptcy protection with fewer distractions and focus on growing market share in turbochargers for automobiles. GTX filed for Chapter 11 bankruptcy to settle outstanding asbestos claims that were part of a business Honeywell (HON) owned but was part of the GTX spin-off. GTX no longer has such indemnity exposure and has a simplified agreement in paying HON. Continued growth in gasoline turbochargers creates a catalyst for sales growth over the next three years. GTX’s development of its e-turbo turbocharger and fuel cell compressor gives GTX exposure to hybrid and fuel cell vehicles solidifying a long runway to grow sales beyond gasoline and diesel. GTX’s stock is trading at a discount to peers and where the shares were prior to its financial issues even though the sales growth is likely to have linear characteristics for the next couple years.

GTX: Motion for Commotion, Initiating with Buy