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...The company has de-rated materially relative to our coverage universe, and we believe the stock is significantly undervalued at only a modest premium to book value (1.06x)....
...Risk case: If economic lockdown lasts for six months and US corporates de-lever, we forecast -40% EPS growth in 2020, 15% in 2021 and the S&P 500 declining to 1,600....
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...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...Looked at differently, Cyclicals are still priced for a V-shaped recovery, which might not happen....
...We think Airbus would be best-positioned to benefit from a V-shaped recovery in 2021....
...So far, this continues to be the case in 2020; gold is up 11% YTD (in C$ terms) but the S&P/TSX Gold index is down 16%....
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...The Covid-19 vaccine(s) will prove a shot in the arm for both the UK economy and its peers....
...A Tesla P100D Model S can, in short bursts, produce 500kW of power from a 100kWh battery — what is known as a C-rate of five times....
...The regulatory approval represents an important milestone in the process, announced last year, to launch a cash tender offer for Delta’s acquisition for up to 49 percent of Grupo Aeromexico S.A.B. de C.V...
...19 The designer of the suit was the subject of an exhibition at the V&A in London in 2015, which proved the most popular in the museum’s history....
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...V-A-C Collection, Whitechapel Gallery, London The Whitechapel’s admirable programme of bringing international collections to London continues with Mike Nelson’s selection of sculptural highlights from a...
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