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Previously highlighted as a value name in our analysis released March 25, 2020, VF Corp. (VFC) has unveiled its plan for reopening stores across the Middle East, Europe and the United States as pandemic restrictions begin to ease. The earnings might have missed expectations on Friday (May 15), but digital sales and the ongoing reopening plan are clear positives moving forward, and the stock provides a value-oriented entry level at the same price as we recommended two months ago.
18 May 2020
While so many restaurants have been impacted by the ongoing pandemic with little end in sight, it's reassuring to see one with a plan in place to start reopening in a rational way. As pandemic safety restrictions begin to ease, The Cheesecake Factory, Inc. (CAKE) already knows how it will restart its dine-in operations. Additionally, it has measures in place to maintain liquidity before its dine-in revenue is rejuvenated. This provides confidence in the management and the company moving forward.
15 May 2020
We see strong upside in satellite internet provider EchoStar Corp. (SATS) as the company sees its network demand increased in this challenging time. As more people are staying home due to either lockdown or working from home as a health precaution, the need for reliable data connection is made apparent and SATS' services are seen as critical to sustain the current working environment.
15 May 2020
In its first earnings since the merger between United Technologies Corp. (UTX) and Raytheon Co. (RTN) and the dual Spinoff of Carrier Global Corp. (CARR) and Otis Worldwide Corp. (OTIS) in April 2020, new Parent Raytheon Technologies Corp. (RTX) proves its defense operations maintain their resilience in the ongoing pandemic environment. The recovery in the commercial aviation market will take a couple years to occur, but current levels provide an entry opportunity in RTX.
15 May 2020
Less than two months since Spinning off EPROB SS on March 23, 2020, Electrolux AB (ELUXB SS) is up +23% versus the OMX 30 index, up +8% during that time. With its 1QFY20 earnings largely in-line with expectations, its strong financial positioning versus peers, we continue to see near-term positives for the company ahead of a longer-term recovery and recommend holding ELUX.
15 May 2020
With the suspension of all sporting events and shows, this had an obvious effect on the revenue stream for both MSG Sports Corp. (MSGS) and MSG Entertainment Corp (MSGE). However, with esports the next leg of growth for MSGS and MSGE building the futuristic venue in Las Vegas, The Sphere, we see the current discount to their asset based valuation (MSGS - highly-valued NY Knicks and Rangers and MSGE’s legendary venues) an opportunity for investors to enter.
14 May 2020