Vermilion Compass: Weekly Equity Strategy

Magnificent Seven's Turn to Shine We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass). We will maintain our bullish intermediate-term outlook as long as market dynamics remain healthy and the S&P 500 (SPX) is above 6200 (up from 6028-6059). Additionally, we discussed since our 10/14/25 Compass how our near-term bullish outlook remains intact as long as the SPX holds above 6550-6569, which coincided with the 3-month uptrend. SPX is pulling back after hitting all-time highs; the upside gap at 6750-6772 is sh...

Energy Morning - 3 November 2025

Energy Morning - 30 October 2025

Rapid Nutrition PLC (ALRPD.PA): Eyes on Double 11 – PO €0.50…!

>Trading Call. We are maintaining our BUY HIGH RISK rating on Rapid Nutrition PLC (ALRPD.PA) and our PO of €0.50, based on a discounted gross profit (DGP) model using a 9.0% WACC and a 40.0x terminal value, which represents the mid-point of the peer range. >Eyes on Double 11. The Double 11 (Singles Day) shopping festival is set to run from October 9 through November 11, spanning 34 days—making it the world’s longest shopping event. Over this period, we forecast GMV (Gross Merchandise Volume) growth of 9.5%, reaching ¥1.6 trillion ($220.7 billion), supported by an extended campaign period, the...

Rapid Nutrition PLC (ALRPD.PA): Growth momentum – €1…!

>Trading Call. We are maintaining our BUY HIGH RISK recommendation on Rapid Nutrition PLC (ALRPD.PA) with a price objective of €1.00 per share. We continue to recommend accumulating the shares on any weakness. >Growth Momentum. Azurene and the SystemLS brand’s growth momentum in APAC aligns with rising demand for alternative wellness products. The brands have gained strong market traction and are poised for significant sales growth with robust margins by 2025. Continued product expansion and deeper channel penetration will further drive growth across APAC, Europe, the US, and Australia. >Exp...

ALRPD.PA: Rebalance upward – €1…!

>Trading Call. We are maintaining our BUY on Rapid Nutrition PLC (ALRPD.PA), however, we are adjusting our risk rating to HIGH from SPECULATIVE. Our price objective of €1.00 per share is unchanged. Month-to-date, the shares are up by 68%, outperforming the peer group that is down by 2% and the Euronext 100 that is up by 1.9%, respectively. We recommend accumulate the shares on weakness. >Rebalance Upward. Following the termination of the second tranche of the Atlas convertible loan, the company strategic review of the growth outlook in 2024 beyond, the entrance in China, has led the company...