Parašė | Tema | Žinutė |
EnlightResearch | Europos rinkos | #736331 2023-01-24 09:06 |
Enlight Research publishes an initiation report on
FOM Technologies from Denmark. https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88861 "Ready for takeoff" Base case price target DKK/share 55.00 or 23% upside from last price. FOM is active in the small but fast growing market for coating solutions to the renewable energy sector. The client list reveals a market leading position. We expect continued double-digit revenue growth with bottom-line profits. |
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EnlightResearch | TKM1T - Tallinna Kaubamaja | #736590 2023-01-26 09:10 |
Analysis after Q4/22 report
"Strong finish to 2022" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88863 |
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EnlightResearch | NEOFI - NEO Finance | #741884 2023-02-27 08:49 |
Analysis after 2022
"Positive Q4 signs" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88913 |
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EnlightResearch | EEG1T - Ekspress Grupp | #741885 2023-02-27 08:52 |
Analysis after Q4/22
"2022 Sales +20%, Profits +14%" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88914 |
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EnlightResearch | TAL1T - Tallink Group | #742697 2023-03-02 09:36 |
Analysis after Q4/22
“Investors missing three things” https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88917 |
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EnlightResearch | East West Agro - EWA1L | #743844 2023-03-10 08:26 |
Analysis on 2022 results
"Dividend estimate raised +90%" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88921 |
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EnlightResearch | LNA1L - Linas Agro Group | #744560 2023-03-14 09:10 |
Analysis after H1/22-23
"+19% ytd = top performer in Baltics" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88923 |
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EnlightResearch | SAB1L - Šiaulių bankas | #745873 2023-03-23 08:41 |
Analysis after Q4/22
“Still below book value” https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88925 |
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EnlightResearch | TSM1T - Tallinna Sadam | #747561 2023-04-04 08:52 |
Analysis after Q4/22
"Real estate progressing" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88928 |
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EnlightResearch | IGN1L - Ignitis grupė | #747872 2023-04-06 09:39 |
Analysis after Q4/22
"Green Generation at significant discount" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88931 |
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EnlightResearch | NTU1L - Novaturas | #748184 2023-04-11 09:05 |
Analysis after Q4/22
"Tailwind in 2023" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88933 |
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EnlightResearch | TKM1T - Tallinna Kaubamaja | #748959 2023-04-19 08:08 |
Analysis after Q1/23 report
"The silent performer" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88935 |
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EnlightResearch | GRG1L - Grigiškės | #749455 2023-04-25 08:44 |
Analysis after Q4/22 report
"Energy down = Profits up" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88941 |
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EnlightResearch | INC1L - INVL Technology | #749621 2023-04-26 11:45 |
Analysis after Q4/22 report
"NAV discount at historical high" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88944 |
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EnlightResearch | TAL1T - Tallink Group | #750896 2023-05-10 08:28 |
Analysis after Q1/23
Recovering to a “new normal” https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88976 |
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EnlightResearch | EEG1T - Ekspress Grupp | #751081 2023-05-12 11:44 |
Analysis after Q1/23
“Solid start of the year” https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88979 |
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EnlightResearch | SAB1L - Šiaulių bankas | #751636 2023-05-18 09:07 |
Analysis after Q1/23
"Higher rates boost earnings" https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88983 |
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EnlightResearch | TSM1T - Tallinna Sadam | #752433 2023-05-29 08:53 |
Analysis aftrr Q1/23
On the recovery track https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88985 |
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EnlightResearch | IGN1L - Ignitis grupė | #753391 2023-06-09 13:43 |
Analysis after Q2/23
“Exceeding expectations” https://research.enlightresearch.net/jsp/demoLogin.jsp?key=3512&x=aabbcc&resLibId=88987 |
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EnlightResearch | IGN1L - Ignitis grupė | #753678 2023-06-13 10:21 |
jeronimas [2023-06-09 14:03]: Enlight research do you plan to adjust Discount rate from currently used 6,5% to more realistic one? 10-12% for IGN. and motivated div yield 5% -> can you share main assumptions for it? it hasn't changed also for last couple of years. or do you wait for IGN Wacc regulatory targets recalculation? Yes, we wait for regulatory WACC calculations to adjust. With this said, it is not sure it will be 10-12% or motivated yield of 9-10% as this is probably unrealistic in practice (perhaps correct in theory) as the peer group is yielding 5.4% on 2023. When rates were negative, our WACC was probably too high, and some might argue it is too low now. But what happens if rates sink next year? Also, note that our DCF WACC is 7.8% which gives roughly same Fair value (27.85) as the motivated yield model (visible on last page of report). As always with valuation, one has a choice to be 100% theoretical or blend in some reality. A university professor must be 100% theoretical, but an investor, must also consider the real world. |