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Points International: New Partners, Solid Business Model, And Compelling Share Price
- Points International's business model remains solid as the company scales its operations with the addition of significant new partners in 2014.
- Points International grew revenue at a scintillating 68 rate YoY in the first half of 2014.
- Strong free cash flow at the end of FY 2013 demonstrates the cash flow generating power of Points International during the important Q4 holiday season.
- DCF Valuation Model indicates a potential 123 percent gain from current share prices.
- Shares rose 34 percent in around 3 months after publication of our last Points International report in November 2013 and are now priced at compelling levels.
Inter Parfums: Near-Term Catalysts, New Brand Launches, And Underpriced Shares
- Shares currently underpriced as a result of confusion over headline comps from Q1 and Q2 Burberry transition in 2013.
- Fundamentals of the company are excellent and two valuation models estimate Inter Parfums shares are potentially worth 2X their current market price.
- New brands and products from the company's most successful franchises are set to increase revenue for Q3 2014 through FY 2015.
- Cost structure has leverage to add $50 million to $150 million of incremental net sales without any increase in G&A expenses.
- High probability of new brand license being announced in Q4 2014.
Nautilus: Robust Early-Stage Cash Growth, New Products, And Secular Trends Fuel Strong Gains
- Nautilus is in the early stages of a strong growth cycle after restructuring its business after the financial crisis.
- Several new product launches and the success of its new MAX Trainer device in early 2014 have the potential to accelerate the growth trajectory.
- Fear about this stock hangs over investor sentiment as memories of its epic decline leading up to the financial crisis linger after its turnaround.
- Strong free cash flow indicates an estimated valuation 76 percent higher than current share prices.
- Macro tailwinds provide Nautilus with fertile target markets for its products for years to come.
Lands' End: Growth Strategies, Free Cash Flow, And Short Interest Driving Shares Higher
- Lands' End shares distributed in a spin-off to investors in April 2014 after 12 years in deep freeze as a subsidiary of Sears.
- Lands' End is currently pursuing compelling growth strategies now that it has independent access to capital and credit markets.
- After 12 years as a subsidiary of a domestic retail operation, Lands' End can now pursue international opportunities for overseas distribution in previously untapped markets such as China.
- Strong free cash flow offers the potential for shares to gain 72 percent in the next 36 months.
- Shocking 85 percent of the estimated effective free float shares are held in short positions.
Sears Holdings' Valuation Part 4: SRe Holding, Sears Re, And REMIC Early 2014 Update
- Update on significant developments revealed in Sears Holdings' 2013 10-K.
- SRe Holding Corporation created by Sears Holdings in Q4 2013.
- Mortgage-backed securities containing the 125 most valuable full-line Sears stores distributed to SRe Holding Corporation.
- Sears Reinsurance reduced "excess statutory capital" in REMIC by distributing CMBS to SRe Holding Corporation.
- With cash balances the highest in three years, Sears Holdings also sold 5 stores for $98 million in 2013.
Sears Hometown And Outlet Stores: Growing Channel In The Sears Holdings Ecosystem
- Sears Hometown and Outlet Stores is primarily a distribution channel for brands of Sears Holdings.
- SHOS business model as it relates to Sears Holdings exhibits striking similarities to that of Yum Brands and PepsiCo, Inc.
- Sears Hometown and Outlet Stores is a component within a larger inter-dependent system of assets in Eddie Lampert's portfolio.
- SHOS is best evaluated on the basis of its value to the Sears Holdings ecosystem.
Sears Holdings' Valuation Part Three: Multiple Valuations And Short Interest Fuel Volatility
- Bishop Research and Analytics' third report on Sears Holdings focuses on actionable analysis and factors that drive volatility of the share price.
- March 2014 is the nine year anniversary of the formation of Sears Holdings by merging Kmart Holdings and Sears, Roebuck & Co. in March 2005.
- Eddie Lampert and his hedge fund ESL Investments have raised substantial funds in the last two months.
- Short Interest is currently over the 60 percent threshold that has proven to lead to epic rallies in SHLD shares every time that level is crossed.
- 2014 might be a tipping point for Sears Holdings and finally enable the views of the long thesis and the bear case to converge as market dynamics change.
- Mason Graphite: Graphene Revolution, Lithium-Ion Battery Growth, And China Supply Woes Offer A Compelling Opportunity
- Sears Holdings' Valuation Part Two: Credit Flows For Subsidiaries Inside A Permanently Embedded Capital Structure
- Points International: Phenomenal Growth, Strong Cash Flow, And Potential Takeover Target
- CBOE Holdings: Strong Growth, Large Moat, And A Call Option On Volatility
- Signet Jewelers: Outlet Malls, Ultra Acquisition, And Macro Tailwinds Fuel Extraordinary Growth
- Inter Parfums: Opportunities With Cash, New Brands, And High Growth
- Discover Financial Services: Set For Growth With New Strategies And Network Partnerships
- Sears Holdings' Valuation: Between Berkshire Hathaway And Bankruptcy
- Why The Fed May Increase QE Asset Purchases Before Pursuing Exit Strategies