EVENTS:   The Roaring 2020s or a Rerun of the 1970s? - Edward Yardeni/Yardeni Research - 24 Mar 26   Best Equity Short Ideas Conference Call 13 - Thomas Chanos/Badger Consultants & Dr. Aaron Fletcher/Bios Research & Jonathan Telgener/Channel Dynamics & Ed Steele/Iron Blue Financials & John Zolidis/Quo Vadis Capital & Mark Hiley/The Analyst - 26 Mar 26     ROADSHOWS: Chinese Equity Ideas & Channel Checks Across 50 sub-sectors - Don Ma /Horizon Insights   •   London   23 - 27 Mar 26       Long Short European Equity Research - Harry Grist /The Analyst   •   New York   26 Mar 26       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   27 - 27 Mar 26      
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Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

Knife River (KNF)

Materials

Thompson Research Group

The secular trend of the reindustrialisation of the US / North American market is one that TRG believes has a long tail for growth (10+ years) and will see a greater differentiation of winners. As a vertically integrated heavy materials producer, KNF is well placed to benefit. It was an “orphaned asset” under the MDU umbrella, and now as an independent entity, it has a greater ability to focus on value creation. To that end, KNF has already hit its 15% EBITDA margin target two years early. The next stop is 20%+, which TRG believes will come from a mix of pricing, cost control, and mix shift to materials focused from both organic and acquired efforts. 55% upside.

Edition: 187

- 31 May, 2024


Special Situations: 10 stocks poised for long-term growth

The Edge

The companies highlighted in The Edge's latest report are all undervalued vs. their industry peers, while exhibiting strong fundamentals, including impressive profit margins and strategic leverage. European and US names include: 1) Melrose - divesture of its Aerospace division looks set to unlock considerable value for investors. 2) Solvay - the share price has rerated sharply higher following the successful spin-off of Syensqo earlier this month. 3) BorgWarner - ICE to EV opportunity. 4) MDU Resources - the next big utility play; activist involvement. Click on the button below for further information on how to capitalise on these and more spin-off opportunities.

Edition: 176

- 22 December, 2023