reports
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Upgrading cap-weighted Communications to overweight; 10 to 2's Treasury spread breaking out We continue to move increasingly toward the bullish camp and we believe equities are poised for higher prices moving forward. Below we highlight several developments which help lead us to this conclusion. • 10 to 2's Treasury yield spread widening & breaking out. The 10 to 2's spread is quietly breaking out to YTD highs and breaking above a ~2.5-year downtrend. This steepening yield curve is good for ...
URI UNITED RENTALS INC.
YNDX YANDEX NV CLASS A
IZZ TAL EDUCATION GROUP SPONSORED ADR CLASS A
SEDG SOLAREDGE TECHNOLOGIES INC.
RUN SUNRUN INC.
MCO MOODY'S CORPORATION
N1U NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC. SPONSORED ADR
DISH DISH NETWORK CORPORATION CLASS A
DISCA DISCOVERY INC. CLASS A
CSIQ CANADIAN SOLAR INC.
CETV CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. CL A
SYF SYNCHRONY FINANCIAL
AXP AMERICAN EXPRESS COMPANY
COF CAPITAL ONE FINANCIAL CORPORATION
ENPH ENPHASE ENERGY INC.
FSLR FIRST SOLAR INC.
HRI HERC HOLDINGS INC.
JKS JINKOSOLAR HOLDING CO. LTD. SPONSORED ADR
SPWR SUNPOWER CORPORATION
TWTR TWITTER INC.
HEES H&E EQUIPMENT SERVICES INC.
SPGI S&P GLOBAL INC.
A2DSZX ALTABA INC REGISTERED EX. FIRST AND FINAL LIQUIDATING DISTRIBUTION
ATUS ALTICE USA INC. CLASS A
RDFN REDFIN CORPORATION
NPSNY NASPERS LTD. ADS
GLIBA GCI LIBERTY INC. CLASS A
BEDU BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED SPONSORED ADR CLASS A
- Ali Mogharabi
Morningstar | AABA Updated Forecasts and Estimates from 12 Apr 2019
Altaba announced today that it plans to liquidate its holdings and close down the fund. While it is not yet clear how Altaba will distribute its net assets to the shareholders, based on a 50/50 assumption of a cash or shares of Alibaba (the firm's main holding) distribution, we reduced our valuation of Altaba to $88 per share from $98. Neither we nor management is certain yet how such liquidation will take place. Based on the latest Alibaba market price, Altaba management believes that net asse...
- Ali Mogharabi
Morningstar | Altaba to Liquidate Its Holdings; Lowering FVE to $88 pe...
Altaba announced today that it plans to liquidate its holdings and close down the fund. While it is not yet clear how Altaba will distribute its net assets to the shareholders, based on a 50/50 assumption of a cash or shares of Alibaba (the firm's main holding) distribution, we reduced our valuation of Altaba to $88 per share from $98. Neither we nor management is certain yet how such liquidation will take place. Based on the latest Alibaba market price, Altaba management believes that net asse...
- Ali Mogharabi
Morningstar | Altaba to Liquidate Its Holdings; Lowering FVE to $88 pe...
Altaba announced today that it plans to liquidate its holdings and close down the fund. While it is not yet clear how Altaba will distribute its net assets to the shareholders, based on a 50/50 assumption of a cash or shares of Alibaba (the firm's main holding) distribution, we reduced our valuation of Altaba to $88 per share from $98. Neither we nor management is certain yet how such liquidation will take place. Based on the latest Alibaba market price, Altaba management believes that net asse...
- Ali Mogharabi
Altaba to Liquidate Its Holdings; Lowering FVE to $88 per Share
Altaba announced today that it plans to liquidate its holdings and close down the fund. While it is not yet clear how Altaba will distribute its net assets to the shareholders, based on a 50/50 assumption of a cash or shares of Alibaba (the firm's main holding) distribution, we reduced our valuation of Altaba to $88 per share from $98. Neither we nor management is certain yet how such liquidation will take place. Based on the latest Alibaba market price, Altaba management believes that net asset...
- Ali Mogharabi
No-Moat Altaba to Liquidate and Close Down
We continue to value Altaba at $98 per share, based on our view that wide-moat-rated Alibaba, which is Altaba's main holding, is meaningfully undervalued as compared with our $240 fair value estimate for Alibaba's U.S. ADR. Morningstar continues to view Alibaba as attractively priced even after its 37% year-to-date runup. We believe this supports our bullish view on Altaba, which is trading at a 0.78 price/fair value, similar to Alibaba’s. Regarding Alibaba, Morningstar’s long-term bias on t...
- Ali Mogharabi
Morningstar | Altaba Stock Has Surged 31% Year-to-Date, But Remains Un...
We continue to value Altaba at $98 per share, based on our view that wide-moat-rated Alibaba, which is Altaba's main holding, is meaningfully undervalued as compared with our $240 fair value estimate for Alibaba's U.S. ADR. Morningstar continues to view Alibaba as attractively priced even after its 37% year-to-date runup. We believe this supports our bullish view on Altaba, which is trading at a 0.78 price/fair value, similar to Alibaba’s. Regarding Alibaba, Morningstar’s long-term bias on ...
- Ali Mogharabi
Morningstar | Altaba Stock Has Surged 31% Year-to-Date, But Remains Un...
We continue to value Altaba at $98 per share, based on our view that wide-moat-rated Alibaba, which is Altaba's main holding, is meaningfully undervalued as compared with our $240 fair value estimate for Alibaba's U.S. ADR. Morningstar continues to view Alibaba as attractively priced even after its 37% year-to-date runup. We believe this supports our bullish view on Altaba, which is trading at a 0.78 price/fair value, similar to Alibaba’s. Regarding Alibaba, Morningstar’s long-term bias on ...
- Ali Mogharabi
Altaba Stock Has Surged 31% Year-to-Date, But Remains Undervalued
We continue to value Altaba at $98 per share, based on our view that wide-moat-rated Alibaba, which is Altaba's main holding, is meaningfully undervalued as compared with our $240 fair value estimate for Alibaba's U.S. ADR. Morningstar continues to view Alibaba as attractively priced even after its 37% year-to-date runup. We believe this supports our bullish view on Altaba, which is trading at a 0.78 price/fair value, similar to Alibaba’s. Regarding Alibaba, Morningstar’s long-term bias on t...
- Ali Mogharabi
Morningstar | Altaba Remains Undervalued as We Foresee a Recovery in A...
We continue to value Altaba at $98 per share, based on our view that wide moat-rated Alibaba, which is Altaba's main holding, is meaningfully undervalued as compared with our $240 fair value estimate for Alibaba's U.S. ADR. Morningstar sees Alibaba as attractively priced especially after the firm's investor day in September. We believe this supports our bullish view on Altaba, which is trading at a 0.64 price/fair value, similar to Alibaba's 0.62. We also note that Altaba recently sold its remai...
- Ali Mogharabi
Morningstar | No-moat Altaba's main holding remains Alibaba.
Altaba is a closed-end management investment company with its main holding in Alibaba. The firm, initially Yahoo, which sold its core Internet business to Verizon in 2017, also sold its remaining stake in Yahoo Japan in 2018 for approximately $6.3 billion. Currently, our outlook for Altaba and our $98 per share fair value estimate are based on our expectations of the wide-moat rated Alibaba, the world’s largest online and mobile commerce company that operates China’s most-visited online mark...
- Ali Mogharabi
No-moat Altaba's main holding remains Alibaba.
We are increasing our fair value estimate for Altaba as Morningstar raised the fair value estimate for the firm’s main holding, Alibaba, to $240 per ADS from $210. This increase, which was offset partially by Morningstar’s lower valuation of Yahoo Japan, pushed our Altaba fair value estimate to $98 per share from $87. In addition, the firm remains on path to return capital to its shareholders, announcing a tender offer to repurchase its shares in exchange for Alibaba shares and cash. Based o...
- Ali Mogharabi
Morningstar | No-moat Altaba's main holdings remain Alibaba and Yahoo ...
We believe Yahoo is focused mainly on selling its core Internet business in order to benefit shareholders by unlocking the value of its holdings in Alibaba and Yahoo Japan. Yahoo likely will become a shell company or a tracking stock representing Alibaba and Yahoo Japan. While we think most of the company’s valuation will be based on those two holdings, we expect it to be discounted as the risk of a non-tax-efficient liquidation of those holdings remains.Regarding Yahoo’s core business, we b...
- Ali Mogharabi
No-moat Altaba's main holdings remain Alibaba and Yahoo Japan.
We are increasing our fair value estimate for Altaba as Morningstar raised the fair value estimate for the firm’s main holding, Alibaba, to $240 per ADS from $210. This increase, which was offset partially by Morningstar’s lower valuation of Yahoo Japan, pushed our Altaba fair value estimate to $98 per share from $87. In addition, the firm remains on path to return capital to its shareholders, announcing a tender offer to repurchase its shares in exchange for Alibaba shares and cash. Based o...
- Valérie GASTALDY
- Valérie GASTALDY
- Louis AZAIS
- Louis AZAIS
- Louis AZAIS
Short term view - ALTABA INC : Without trend
The previous significant trough has been broken. The trend now is neutral. Should prices move back above this level, we would face a false signal.Arguments :- The support has been breached.- The major resistance has been reached, it causes the fall.- Prices are breaking below the moving average.
- Louis AZAIS
Analyse court terme - ALTABA INC : Sans tendance
Le précédent creux significatif ayant été enfoncé, la tendance est maintenant neutre. Si les cours réintégraient rapidement ce niveau, nous serions alors confrontés à un faux signal.Arguments :- Le support est enfoncé.- La résistance majeure est atteinte, elle cause le repli.- Les prix enfoncent la moyenne mobile.
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