Download PDF The world in the 21st century is increasingly growing more independent from cash transactions thanks to an incredibly dynamic payment industry, marked in recent years by rapid developments. The 1950s marked the invention and of the first credit card in the United States, in part fueled by war-recovery Read more…
Download PDF Introduction about Fintech In the years following the financial crisis of 2008, regulators have focused their attention on making the financial system a much safe a place as possible, in particular adopting new regulations for traditional financial institutions. Meanwhile, in places like Sillicon Valley, London, and in parts Read more…
Download as PDF Introduction Relative valuation is a widely spread approach among practitioners and is, broadly speaking, a double-check methodology, to back-test more sophisticated valuation techniques. Relative valuation relies on the main assumption that stock markets are on average efficient and fundamentals are correctly priced in. The aim of this Read more…
Introduction Firstly, we briefly present H&M business. Secondly, we provide a report of recently announced Q1 2017 results. Thirdly, we perform a DCF and multiples valuation to find a target price for H&M, in line with recently announced results. Finally, we will explore a strategy to profit from our analysis. Read more…
Mobileye NV (NYSE: MBLY) – market cap as of 30/03/2017: $13.63bn Intel Corporation (NASDAQ: INTC) — market cap as of 30/03/2017: $171.80bn Introduction On March 13, 2017, Intel Corporation announced the acquisition of the Israeli tech company Mobileye NV for $14.7bn. The U.S. chipmaker is paying one of the highest Read more…
[edmc id= 3236]Download here the Ferrari Pitch[/edmc] After having covered the IPO of Ferrari (https://bsic.it/wanna-flawless-ferrari-52-now-feasible/) in detail a couple of weeks ago, we are now trying to identify RACE’s market positioning in terms of multiples. The structure of the analysis is as follows: firstly, we plot Ferrari’s positioning against major automakers Read more…
Driven by strong growth in China, the announcement of QE in the Eurozone and a solid recovery in the US, the automotive sector experienced a remarkable rally since the beginning of the year to the end of June. The SXAP (STOXX Europe 600 Automobiles & Parts Index) expanded more than Read more…
On May 6th, Sergio Marchionne has announced an ambitious, probably unnecessarily bullish, five-year plan at the Chrysler division’s headquarters in Auburn Hills, near Detroit. Through this article, we are going to evaluate it and its impact on the stock price, from both the fundamental approach and the technical analysis methodology. Read more…
Pirelli has been under the spotlight since the beginning of the past week. The company, which is among the main players in the global tyre industry and leader in the high-end segment of the sector, has been characterised by a reorganisation of the shareholders structure. Rosneft, the biggest oil producer Read more…
Moleskine is the manufacturer and distributor of numerous branded accessories, including the famous notebooks used by several writers and artists, like Hemingway and Van Gogh. In particular, the company operates three business lines: a) Paper products b) Writing, travelling & reading collections c) Digital services. Paper items have been the Read more…
After analyzing Moncler’s fundamentals last week (https://bsic.it/2013/11/30/piazza-affari-revival-moncler-ipo/), in this article we want to provide a more practical description of how it would be possible to profit from the hottest IPO of the year on Borsa Italiana. We have investigated three different ways of benefitting from Moncler’s IPO: • Underwrite the Read more…
Months of rumours have finally come to an end: Twitter is joining the ranks of listed internet companies with an IPO in Q4 2013. The market is hyped up and ready to go, but is this offering destined for ridicule as Facebook’s was? Correctly valuing Twitter is of paramount importance Read more…