Hints and tips:
...“F.E.E.L.I.N.G.C.A.L.L.E.D.L.O.V.E” and “Sorted for E’s & Wizz” were ticked off like rites of passage from someone moving from Sheffield outsider to Britpop in-crowd....
...Hence we think share price underperformance of wholesale banks such as DBK (4.7x P/E 2024E), BARC (3.9x P/E 2024E), BNP (6.9x P/E 2024E) as well as by some Money Center Banks is overdone....
...From $2,250, thepointresort.com MCO’F Artist Residence, Brighton When Justin Salisbury’s mother was injured in an accident, he stepped in to run her seaside hotel....
...The initiative also helps to save lions and rhinos and, most recently, koalas in Australia through the Wildlife Conservation Network. tiffany.com F is for Fashion ExpressionsPrada Group has partnered with...
...C Coaching After Wimbledon, the men’s tour will trial allowing coaching during matches....
...Today, it employs more than 1,000 staff and serves a roster of multinational companies in the Philippines that includes Unilever, P&G, L’Oréal and Nestlé....
...“Any time you set up a P&L, over time you could create a reportable entity, but it’s not our direction,” he said. “This is in order to keep these companies focused.”...
...Steven P citylights.com Daunt Books, Marylebone “What a treat to visit their shop in Marylebone....
...The price target is £2.0 assuming 3x P/E (half our normal valuation pending dilution), 4x EV/EBITDA....
...Nordics P&C exposure through If P&C and Topdanmark supports around 60% of Sampo’s dividend, where this is expected to remain stable....
...L-f-l rents down 27%: net rental income fell down to just £87.3m which represents a l-f-l fall of 27% (excluding premium outlets), as a result of covid and the reduced rent collection rate....
...France L&S and Italy will not pay dividends this year, and XL Bermuda is unlikely to. The slack is only partly taken up by France P&C which is over distributing....
...E valuation, significantly above its 3-year historical average of 14.8x NTM P/E....
...EnQuest’s cash netback lead among UK E&P’s has improved further as yet more legacy high-cost fields are shut-in permanently....
...London Crossword 16,278: Peter Bromwich, Birmingham; James Reid, Fife, Scotland; EASherratt, Staffordshire, England Polymath 1,040: Patricia Blakemore, West Midlands, England Crossword 16,272: Martha F...
...Apart from negative l-f-l rental and value growth, we assume recapitalizations to an LTV of c.35% by 2021 lowering the EPS and NAV by c.49% and c.61%....
...We do not think that management would have referred to “strong cash conversion” and emphasized delivering if the beat in the P&L were not flowing through well to cashflow, so we believe that the commentary...
...We cross-check our PT with a 2024E P/E multiple discounted to present value; our PT would imply a 15x P/E multiple vs 23.0x developed Sx pharma 12m forward P/E average....
...SSP trades on a CY19 P/E of 21.8x, EV/EBITDA of 9.9x and FCF yield of 5%. This compares to a peak P/E of 25.7x (Sep-18)....
...Since 2016, we estimate the Kingfisher P&L has had an £81m transactional benefit from weaker sterling. FX could become a headwind once trade talks are agreed (or not)....
...at the ‘C-suite’....
...This is however negligible in the wider context of the P&L and the land bank, with the impact on future gross margin of 17bps small and which will likely be mitigated....
...On our new estimates, L’Oréal trades on an FY21E P/E of 32.6x, the highest premium versus the consumer staples sector for over 10 years....
...However, with limited upside to our price target on c.15x P/E 2020E, we downgrade to Hold....
...P&C outperformed into the corrections in the past 8 years....
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