We're posting notes from the Sohn London investment conference 2016. Next up is Elif Aktug who is the Agora Fund Manager at Pictet Asset Management and pitched long Leonardo (BIT:LDO), formerly known as Finmeccanica.
Elif Aktug's Sohn London Conference Presentation
Long Leonardo (BIT: LDO)
Leonardo has had a name change and used to be Finmeccanica.
The company is primarily a defence contractor manufacturing helicopters for military and civil use and global defence electronics. The transportation business has been sold off.
Margins have held up well between 11-12%. They have a strong order book. It is cheap compared to other defence contractors. Leonardo has a high-quality management team.
Be sure to check out the rest of the Sohn London conference presentations here.
Monday, December 12, 2016
Elif Aktug Long Leonardo: Sohn London Conference
Monday, December 7, 2015
Elif Aktug Long Mead Johnson Nutrition: Sohn London Presentation 2015
We're posting up notes from the Sohn London Investment Conference 2015. Next up is Elif Aktug of Pictet Asset Management who pitched a long of Mead Johnson Nutrition (MJN).
Elif Aktug's Sohn London Conference Presentation 2015
Long Mead Johnson (NYSE: MJN)
Mead Johnson is the global leader in baby milk formula. Baby food is a high growth product driven by population growth especially in emerging markets and the US.
Mead is beefing up its e-commerce presence in China. It is also going to launch a super-premium product in China next year. The termination of China’s one child policy will generate more business.
The industry is consolidating and Mead Johnson could be a takeover target. A cost cutting programme has been recently implemented and the company is buying back 10% of the shares.
Be sure to check out the rest of the Sohn London Conference presentations.
