Hints and tips:
...But otherwise, give me a V-sweet C-suite job any time. As if anyone would....
...(c) 1 LOB (“Services”) = almost all of Citi’s market cap....
...In 2006, the maison bought Villa Empain in Brussels, restoring the house and turning it into a Centre of Art and Dialogue between eastern and western cultures. boghossianjewels.com C is for Brunello CucinelliThe...
...C Coaching After Wimbledon, the men’s tour will trial allowing coaching during matches....
...As always, you can reach us at Imani.Moise@ft.com or Sid.V@ft.com. Thanks for reading....
...The slack is only partly taken up by France P&C which is over distributing....
...When asked about what path the S&P 500 recovery will take, W remained the most popular choice with 45% percent of the vote. Just 30% expect a V shaped recovery in the stock market....
...Because of its merger with Sprint in Apr-20, TMUS's portfolio of spectrum below 6 GHz is now c.3x that of Verizon and c.2x that of AT&T....
...Sit back, relax and enjoy the first day of the V-shaped recovery. ... Which is not to suggest that - ... Neverthele - ... Yet let’s not overlook the fact tha - ... If you’ll just let me fini - ......
..., which equates to c$1.4bn per annum....
...Wilson, Windermere; D Barter, Cumbria; Jean-Marc Sellier, California Polymath 1,010: Robert Jelly, Warwickshire Crossword 16,093: V Le Quesne, Salisbury; Sue Topham, Newark; Anthony Evans, Hove Polymath...
...P&C outperformed into the corrections in the past 8 years....
...We think it’s largely right that the gaming sector will enjoy a V-shaped recovery as sporting events resume....
...We expect underlying FCF of c.>€1.1 bn in 2021E and FCF to be positive ex WC from 2022. Valuation - Renault trades at c.4.2x 2021E P/E, a c.10% discount to its 3-year median....
...However the shares are up c.30% in the last month and have rerated by c.15pp compared to our FY22 PBT estimate....
...At our PT, the stock would trade at an average 2020/21 P/E of 7.9x, -17% vs. last 24M average P/E; this discount is justifiable, in our view, given Centrica's tight balance sheet. • Updates to follow....
...Weighing in at ~7,000 words and with 84 references, G4S’s Wiki “controversies surrounding . . .” rap sheet is longer than the ones for the Legion of Christ and Grand Theft Auto V, though not quite as long...
...At 28.7x P/E CY21, we move to Sell from Neutral. Burberry has already underperformed peers YTD... Burberry’s share price has underperformed the luxury peers by c.12% year to date....
...Helpful, then, that Halfords is the market leader in bicycle sales (c.25% market share) and PACs (c.15%)....
...at the ‘C-suite’....
...Our last published fair value of 440p (29% upside) is equivalent to a P/TNAV multiple of 0.79x....
...more of a primary event), UK P&C (~14% of premium), and then the multilines (~10%)....
...Next currently trades at c.10.5x FY20 P/E but doesn’t offer its usual strong cash returns currently....
...We expect organic declines of c.-3% for FY 2020. Both companies saw flat organic growth in March and are benefitting from short-term additional demand, especially in the US (c.30% of sales)....
...However, on metrics that smooth out investment, like P/E, BT looks very cheap, on 6x P/E (sector 15x). Our price target remains 130p....
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