Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

Whilst a longer term investment here must be questioned, for now we would buy the shares. They are very depressed given a poor new car market and the company’s recent downward revision for this year. A modest recovery in the new car market, forecast by many analysts, would result in a decent bounce in profits putting the shares on close to 10x (assuming a net of Y5bn for next year). This would result in a re-rating of the shares in our view and for this reason alone, we would buy the shares now.…

Whilst a longer term investment here must be questioned, for now we would buy the shares. They are very depressed given a poor new car market and the company’s recent downward revision for this year. A modest recovery in the new car market, forecast by many analysts, would result in a decent bounce in profits putting the shares on close to 10x (assuming a net of Y5bn for next year). This would result in a re-rating of the shares in our view and for this reason alone, we would buy the shares now.…

Technically Very Oversold and 2/18 Profits to Bounce.

IDOM Inc

Technically Very Oversold and 2/18 Profits to Bounce.