Research Analyst, AlphaBox Advisors

Vijay Lohia, CFA

Research Analyst

Value-Investing Philosophy and Bottom-up Approach

AlphaBox Advisors

At AlphaBox, our recommendations are sector and country agnostic and diversified by market cap. We follow value-investing philosophy and pursue a bottom-up approach to recommending stocks that has a good risk-reward profile and potential to generate market-beating returns, which in some cases would be complemented with an attractive dividend yield. Our recommendations fall into the following two broad categories: (i) Long-term Compounders – Global Markets (ii) EM and FM Alpha

Equity Bottom-Up

TAV Havalimanlari Holding AS / Equity Bottom-Up

<ul>
<li>TAV Airports is the #1 airport terminal operator in Turkey with a 31% passenger market share and 28% market share in commercial flights.</li>
<li>TAV has one of the best growth profile among peer group with expected 3 yr revenue CAGR of 10%-14% and EBITDA CAGR of 12%-18%.</li>
<li>Potential upside of over 50% in one year and over 200% in 4-5 years.</li>
</ul>


TAV Airports is the #1 airport terminal operator in Turkey with a 31% passenger market share and 28% market share in commercial flights.
TAV has one of the best growth profile among peer group with expected 3 yr revenue CAGR of 10%-14% and EBITDA CAGR of 12%-18%.
Potential upside of over 50% in one year and over 200% in 4-5 years.


TAV Airports (TAVHL TI): Mkt Leader, Best Growth Profile, Currency Hedged, Strong Mgmt