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Kone: Upgrade to Buy on Better Earnings & Lower Share Price
Shares are again attractive even with weak Chinese macro, with P/E at just 22x, EBIT rebounding in 2023 and China NE sales becoming less key.
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Librarian Capital
2
Otis: Down 10% Since July; China & Macro Fears Overstated
New Equipment market declines in China and elsewhere drive investor fears, but are less important than Services growth. Shares are at 25.3x 2022 EPS,
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Librarian Capital
Rémy Cointreau: Top Spirits Franchise, Back to July 2020 Levels
The Spirits sector has good structural drivers, and Rémy has some of its best brands. Cyclical fears make the stock a potential bargain.
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Librarian Capital
4
RTX: One-Off “Powdered Metal” $3bn Hit Wipes $14bn Off Market Value
Monday’s new plan is bigger than expected, but we believe markets have over-reacted and a patient investor can potentially double their money by 2026.
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Librarian Capital
8
Direct Line: Still in “Too Hard” Bucket After H1, Despite <10x P/E
Earnings can recover substantially as policies are repriced this year, and shares look cheap, but multiple mis-steps mean problems may be more…
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Librarian Capital
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Librarian Capital's Monthly Ranked Top Buys - September 2023
Our “Select 15” model portfolio has gained 17.5% year-to-date. We are replacing 2 stocks with new positions and adjusting the weights of a further 3.
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Librarian Capital
Charter: FAQ on Disney “Blackout”; “Not a Classic Carriage Dispute”
We explain what the dispute is, how it will affect Charter and where we expect things to go from here.
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Librarian Capital
Pernod Ricard: Near 52-Week Low After FY23 Results
Shares fell 6% after results and the P/E is less than 20x. Structural drivers are unchanged, and investors are too fearful of short-term risks in the…
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Librarian Capital
3
Diageo: Shares Fell Again After FY23 Results, Cheap at 20x P/E
FY23 results were solid. We believe Diageo is not materially over-earning, U.S. demand is still strong and China risks are limited.
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Librarian Capital
Intuit: Double-Digit Growth Again in Q4 FY23, But 36x P/E
INTU is up 25% since we first wrote about it on Substack in May. Intuit is a unique asset consistently growing double-digits, but our Buy rating is now…
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Librarian Capital
PayPal: Investors Gave Up Again After Q2 Results; You Shouldn't
Shares have fallen 19% in August, despite turnaround progress and a good new CEO. The sub-20x P/E means potential outsized rewards and limited downside.
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Librarian Capital
3
Admiral: Only Way is Up After H1 Results
U.K. Motor margins clearly improved in H1. This was the last period with policies predating significant price increases, and we see solid profit growth…
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Librarian Capital
Librarian Capital's Research Library
Librarian Capital's Research Library
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