Oct 2 2023
Recent Research
Travis Perkins plc, Tooling up for growth
Sep 29 2023
Irish economy
Politics: mapping change into 2024
Opinion polls, showing relatively consistent trends in recent years, point to Sinn Féin being the largest party following the next general election. However, while Sinn Féin has a large lead...
Irish economy
MyHome Property Report, Q3 2023
This quarter’s MyHome report shows asking prices up a solid 0.6% in Q3 2023, with annual inflation accelerating to 4.1%. This is consistent with our view that 2023 would be a year of two...
DCC
Strong value creation ahead
At its recent Energy Insights Day, DCC provided significant new details on how it plans to grow earnings through the energy transition while lowering its carbon intensity. We do a deep...
CRH
Beckoning a new dawn
CRH’s primary listing will move to the US on Monday, September 25th. This is a significant event for the share, but the underlying business has no such destination in sight. Its journey...
Building products and distribution
Challenges set to last into 2024
Recent results revealed that 2023 is proving every bit as challenging as was feared for our lightside building materials coverage list. Moreover, the latest signals suggest any rebound...
IRES REIT
Undervalued, financially strong with structural growth opportunities
IRES has traded to levels where we see an opportunity. The implied gross passing and reversionary yields are attractive, and the recent disposals have materially strengthened the...
Smurfit Kappa Group
Building the global packaging leader
The proposed Smurfit Kappa Group (SKG) and WestRock merger creates the clear global packaging leader. We believe SKG’s experienced management team can deliver initial $400m+ year one...
Ryanair Holdings
Decade of growth
We have rebuilt and extended our financial model with detailed and historical forecasts from 1995-2034 (the end of the new Boeing MAX-10 deal) and our discounted cash flow (DCF) out...
Smurfit Kappa Group
Possible merger with WestRock
European packaging leader Smurfit Kappa Group is in discussions with US-listed packaging group WestRock regarding a possible merger. The proposed merged Smurfit WestRock group would...
Disruptive technology
Monthly valuation overview – August
In our monthly valuation product, we provide an overview of key metrics across our three core coverage sectors: E-commerce, Online Marketplaces and Software & IT Services. After...
