EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

Tenaris (TEN IM) Italy

Energy

Stockcube

Stockcube opens a short position as TEN's share price reasserts the downtrend and makes new short term relative lows. Their TP is €10.50. The stock was one of the names highlighted in Stockcube’s Daily Europe Top 200 Bulls & Bears report this week, where they also opened a long position in Lonza Group (finds short term uptrends; TP CHF600). Having recently closed shorts in Norsk Hydro (finds short term price and relative support) and Kering (finds long term support at €240), as well as closing their long position in Deutsche Bank (now trades sideways), Stockcube’s portfolio currently consists of 44 open longs and 26 shorts.

Edition: 193

- 23 August, 2024

Europe Weekly Technical Strategy

Stockcube

The Euro Stoxx 600 encounters medium term resistance at 440/450 with Stockcube anticipating a period of range trading - their Model Portfolio currently has 40 longs (avg. gain 9.3%) and 23 shorts (avg. gain 4%). Within sectors, they highlight Healthcare making new short term highs; Media testing short term resistance while breaking relative range resistance; Energy reasserting uptrends; Industrial reasserting short term downtrends and Technology reasserting downtrends. They recently opened a long in Air Liquide (makes new highs) and shorts in Saint Gobain (reasserts tops), Deutsche Bank (reasserts short term downtrends) and Vonovia (makes new lows).

Edition: 133

- 14 April, 2022

RBL Bank (RBK IN) India

Financials

Hemindra Hazari

Sintex loan fiasco - is RBL’s acting CEO fit to be a banker, let alone run a bank? Approving a loan to a company which has a debt-equity of 10.5:1 and was already overdue on a loan to Deutsche Bank was either a case of extreme incompetence or ‘evergreening’. It also reflects extremely poorly on the independent directors in the credit and risk committees. The regulator must now investigate any other poor quality loans disbursed by the bank. A major implication of this story is that it is unlikely that interim CEO, Rajeev Ahuja, will be selected as permanent CEO; while an external appointment may disrupt the continuity the market was expecting.

Edition: 130

- 04 March, 2022