Candygram
August 2nd Candygram
We sent out our August 2nd Candygram yesterday to our email list and there are a few things that we wanted to note here: Added performance metrics show how hard it has been on our IPO names during the last 3 months. Through the end of July only a few names managed to not decline:…
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Listening to IPO Presentations – Ameresco and Camelot
Ameresco looks like a solid company but gives an extremely boring roadshow presentation, so it’s a bit painful to listen to all 40 minutes of it. But the company is large (>$400M annual revenues), profitable, and has strong visibility thanks to long-term contracts and projects. The focus on improved energy efficiency, combined with some reuse,…
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Candygram – July 1, 2010: A melted market topping for dessert?
Our Candygram will go out to our email list after the close today or early tomorrow morning with the IPO ecosystem included. The market didn’t get in the way of June being a good month for the IPO market. In fact, every deal we mentioned in our June 15th Candygram was priced in the last…
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Quick Views on Fabrinet
Fabrinet provides manufacturing services for optical networking gear, industrial lasers and sensors. The company priced their IPO last night at $10 – a substantial discount to the $12-14 filing range. A fairly conservative run through our Intrinsic Value model for FN suggests the shares are worth $15. Better revenue growth can drive a $16-17 IV….
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IPO Candygram Update
We published the Candygram for June 15, 2010 just after one of the most likely deals to price, CBOE, went out last night at the high end of the range. It’s the first deal to be priced in the month of June. As we noted in our analysis of CBOE, this is by far the…
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Work in Progress: RealD, CBOE, Broadsoft and Zipcar
We are wrapping up some research work on RealD with our partner, Research 2.0, and gearing up to do some work on Zipcar. Our interest in both 3D Cinema and on-demand travel has been longstanding and we are both very eager for these deals to be tested in the market. RealD has enjoyed explosive revenue growth…
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Research report on Financial Engines
Today we published a research report on Financial Engines. It suggests that the company is in a strong position to take advantage of several trends that are actively reshaping the financial landscape. Based on an intrinsic valuation model, the shares still appear reasonably valued. Due to strong economies of scale the company management team can…
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The IPO market is back!
After a one or two year hiatus, a robust IPO market is back in action. The supply of new issues has been limited for some time now and there is some pent up demand from investors for new names. This provides a better foundation for a robust IPO market. The success of concept IPO A123…
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