reports
- MarketLine Department
Eastern Co SAE - Strategy, SWOT and Corporate Finance Report
Summary Eastern Co SAE - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Eastern Co SAE (EC), a subsidiary of Chemical Industries Holding Co, is a manufacturer of tobacco products. The company’s product portfolio includes cigars, cigarettes, moassel and pipe tobacco...
- MarketLine Department
Imperial Brands PLC - Mergers & Acquisitions (M&A), Partnerships & All...
Summary Marketline's Imperial Brands PLC Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Imperial Brands PLC - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Inves...
- Please Change Name John C Forrey
- Please Change Name Kevin Cassidy
Reynolds American Inc.: Key credit considerations following upgrade to...
CORPORATES CREDIT OPINION 8 August 2017 Update RATINGS Reynolds American Inc. Domicile Winston-Salem, North Carolina, United States Long Term Rating Baa2 Type Senior Unsecured - Dom Curr Outlook No Outlook Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Kevin Cassidy 21
- Please Change Name John C Forrey
A director gave away/sold 29,762 shares at 0.000USD and
A director at Reynolds American Inc gave away/sold 29,762 shares at 0.000USD and the significance rating of the trade was 80/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the las...
- Please Change Name Cassidy
- Please Change Name Cassidy
Reynolds American Inc.: Key credit considerations following change in ...
CORPORATES CREDIT OPINION 6 February 2017 Update RATINGS Reynolds American Inc. Domicile Winston-Salem, North Carolina, United States Long Term Rating Baa3 Type Senior Unsecured - Dom Curr Outlook Positive Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Kevin Cassidy
- Philip Gorham
- CFA
- FRM
Reynolds Accepts Revised Offer From BAT; Valuation Curbs Our Enthusias...
The Reynolds American board has approved an improved offer from British American Tobacco for the 57.8% of the business BAT does not already own. We are maintaining our GBX 4,400 fair value estimate for BAT, but are raising our valuation for Reynolds to the transaction value of $60 per share from $54.50, as we have a high level of conviction that the deal will be completed. Although we believe the deal will be somewhat accretive to British American’s wide economic moat, and we acknowledge the a...
- Philip Gorham
- CFA
- FRM
We expect British American Tobacco to complete its proposed acquisitio...
After analysing the potential cash-flow impact from British American Tobacco’s offer to acquire Reynolds American, we are uninspired by the deal. The deal currently on the table is value-neutral for British American, and any sweetening of the deal may be value-destructive. We also don't think the deal would materially enhance British American's wide economic moat rating. On the other hand, we accept that this is the best option in British American's acquisition opportunity set, and given the ...
- Philip Gorham
- CFA
- FRM
We expect British American Tobacco to complete its proposed acquisitio...
After analysing the potential cash-flow impact from British American Tobacco’s offer to acquire Reynolds American, we are uninspired by the deal. The deal currently on the table is value-neutral for British American, and any sweetening of the deal may be value-destructive. We also don't think the deal would materially enhance British American's wide economic moat rating. On the other hand, we accept that this is the best option in British American's acquisition opportunity set, and given the ...
Ford Equity US Rating and Forecast Report
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
- Adam Fleck
We expect British American Tobacco to complete its proposed acquisitio...
British American Tobacco announced an offer to acquire the 57.8% of Reynolds American it does not already own for $47 billion, or $56.50 per share. We are putting Reynolds under review to further assess the offer, but we will likely considerably raise our $47 fair value estimate. We may also adjust our valuation for BAT. The deal would create a global tobacco giant, merging two wide-moat companies, and would slightly enhance BAT's competitive positioning. However, our initial impression is that ...
- Adam Fleck
Reynolds an Attractive Asset, but Valuation Leaves Us Uninspired From ...
After analysing the potential cash-flow impact from British American Tobacco’s offer to acquire Reynolds American, we are uninspired by the deal. The deal currently on the table is value-neutral for British American, and any sweetening of the deal may be value-destructive. We also don't think the deal would materially enhance British American's wide economic moat rating. On the other hand, we accept that this is the best option in British American's acquisition opportunity set, and given the ...
- Adam Fleck
BAT Makes Approach to Reynolds American; Offer Looks Slightly Rich at ...
British American Tobacco announced an offer to acquire the 57.8% of Reynolds American it does not already own for $47 billion, or $56.50 per share. We are putting Reynolds under review to further assess the offer, but we will likely considerably raise our $47 fair value estimate. We may also adjust our valuation for BAT. The deal would create a global tobacco giant, merging two wide-moat companies, and would slightly enhance BAT's competitive positioning. However, our initial impression is that ...
- Adam Fleck
BAT Makes Approach to Reynolds American; Offer Looks Slightly Rich at ...
British American Tobacco announced that it has made an offer to acquire the remaining 57.8% of Reynolds American it does not already own for a total consideration of $47 billion, or $56.50 per share. Our initial impression is that the deal is slightly rich, and we may adjust our fair value estimate for BAT when we have combined the DCF models. However, the deal would create a truly global tobacco giant, merging two wide-moat companies, and would slightly enhance BAT's competitive positioning. Th...
- Adam Fleck
Reynolds American's premium brands support its wide economic moat.
Reynolds American's third-quarter numbers were consistent with the trend that underlies our long-term forecast. We think industry cigarette volumes will continue to decline in the 3%-4% range annually, but the brands and intangibles supporting Reynolds' wide moat will help it to outperform the industry while maintaining pricing power. We also think Reynolds can be a winner in the e-cig market, but that business is moving more slowly than we anticipated. We see shares as fairly valued, as we expe...
- Adam Fleck
Reynolds American Continues to Gain Share in a Declining Industry; Sha...
Reynolds American's third-quarter numbers were consistent with the trend that underlies our long-term forecast. We think industry cigarette volumes will continue to decline in the 3%-4% range annually, but the brands and intangibles supporting Reynolds' wide moat will help it to outperform the industry while maintaining pricing power. We also think Reynolds can be a winner in the e-cig market, but that business is moving more slowly than we anticipated. We see shares as fairly valued, as we expe...
- Adam Fleck
Reynolds American's premium brands support its wide economic moat.
Second-quarter results for wide-moat Reynolds American provided a glimpse of what we have long forecast to be the future for this company and the U.S. tobacco industry overall. After stemming its decline for much of the past year, U.S. cigarette consumption resumed the deceleration that we expect over the long run. However, the industry continues to trend toward premiumization, and Reynolds’ higher-priced brands (which make up more than 90% of the company's cigarette volume) continue to take m...
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