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Procter & Gamble: Good Progress in Q3 FY24, Despite <1% Sales Growth
Underlying fundamentals continue to be solid; returns are attractive for this resilient defensive stock.
Apr 22
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Procter & Gamble: Good Progress in Q3 FY24, Despite <1% Sales Growth
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Hershey: This (Cocoa Price) Too Shall Pass; Upgrade to Buy
HSY at 19x 2023 EPS, 3% Dividend Yield; even if cocoa prices stay at current levels, we expect a 12% IRR by 2026 year-end.
Apr 19
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Hershey: This (Cocoa Price) Too Shall Pass; Upgrade to Buy
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Bank of America: Q1 Stable in All Parts, Except Credit Losses
Q1 results support our view shares are at ~10x normalized P/E; we see ~50% upside in the next few years.
Apr 17
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Bank of America: Q1 Stable in All Parts, Except Credit Losses
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JPMorgan: Falling Back to Earth After Q1 Results?
We believe investors can make money from here, potentially with a 10%+ annualized return if P/E re-rates to 14.5x.
Apr 15
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JPMorgan: Falling Back to Earth After Q1 Results?
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L’Oréal: Getting Ready for 2024 Slowdown?
We review L’Oréal again after Ulta Beauty’s shock warning last week; shares are at a multi-month low.
Apr 6
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L’Oréal: Getting Ready for 2024 Slowdown?
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March 2024
Librarian Capital's Monthly Ranked Top Buys - March 2024
Our "Select 15" portfolio is now up 31.8% since the start of 2023. We recap on key news and make one substitution.
Mar 26
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Librarian Capital's Monthly Ranked Top Buys - March 2024
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Zoetis: Earnings Growth Set to Reaccelerate, But Shares Down 14% Year-to-Date
Zoetis is the leader in the growing Animal Health market, but earnings struggled with some one-offs in 2023.
Mar 23
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Zoetis: Earnings Growth Set to Reaccelerate, But Shares Down 14% Year-to-Date
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Fundsmith: 2024 AGM Full Transcript
Full transcript of the Fundsmith AGM, including the hour-long Q&A session.
Mar 17
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Librarian Capital
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Fundsmith: 2024 AGM Full Transcript
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RTX: 31% Rebound Since October Lows, More Upside to Come
Shares are still cheap with a 4%+ FCF Yield and FCF set to rise 60%+ between 2023 and 2025.
Mar 13
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RTX: 31% Rebound Since October Lows, More Upside to Come
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Brown-Forman: Near 52-Week Low After Q3 FY24 Results, But Positive Sector Read-Across
Depletion data and management comments indicate this is a limited and temporary market downturn.
Mar 10
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Brown-Forman: Near 52-Week Low After Q3 FY24 Results, But Positive Sector Read-Across
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Admiral: EPS Up 17% in 2023 After Price Hikes, More Benefit to Follow
Shares are cheap on a 23x P/E and a 4.0% Dividend Yield, and earnings should rebound further in 2024.
Mar 8
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Admiral: EPS Up 17% in 2023 After Price Hikes, More Benefit to Follow
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Rightmove: 2023 Results & 2024 Guidance are a Marshmallow Test
EPS growth has fallen to around 6%, but a return to ~10% growth is likely if you can wait past 2024, and shares are cheap at 21.9x P/E.
Mar 1
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Rightmove: 2023 Results & 2024 Guidance are a Marshmallow Test
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