The Amazon(s) of travel?
In this report we examine how Europe’s main low-cost carriers (LCCs) are utilising digital technologies to leverage and enhance customer relationships. We have held extensive discussions...
US field trip: North American growth platform bearing fruit
The emergence of a North American growth platform provides a compelling opportunity for Total Produce and a unique point of difference to its equity story. With high quality anchor...
Asia – an introduction to Kerry’s leading emerging markets platform
When Kerry unveils its new five-year targets on October 11th under incoming CEO Edmond Scanlon, we expect the Asia Pacific (ASPAC) division to be an area of focus. Asia (within ASPAC)...
Near term re-rating unlikely without capital return; focus needs to be inward-facing over next 12 months
Paddy Power Betfair has de-rated 20% year-to-date on the back of the surprise CEO announcement, ongoing sluggishness in Europe Online and rising tax risks. With the new CEO unlikely...
50% upside factoring in UK opportunities
We reinitiate coverage on Dalata with an ‘Outperform’ rating and a 12-month price target of €6.20 (23% upside). Beyond this, we see material upside for Dalata in regional UK. Our...
NPL disposals cloud near-term outlook
PTSB’s accelerated non-performing (NPL) reduction targets will see a cleaner core franchise emerge more quickly but at a price to valuation as surplus capital is used towards...
Mid-year review of E&P names
The value and risk in exploration and production (E&P) shares depends largely on your view of the oil price. This year’s wobbling oil price has so far meant that capital markets are...
Initiation of coverage: Irish renewable policy pays dividends
Greencoat Renewables offers unique equity access to operating Irish wind assets which, buoyed by strong wind capacity factors, aim to pay a growing regular dividend over time. Given...
Global equities advance for tenth consecutive month
The MSCI AC world index jumped 0.6% on the final day of August, resulting in a tenth successive monthly gain for the global benchmark. The index added 0.2% in August and has now climbed...
Gauging Ireland’s housing demand/supply imbalance
Our new analysis of housing demand and supply in Ireland reveals an even larger imbalance than we first thought. Government policy seems focused on boosting supply by helping...