Research Tree | Equity Research for Investors

11 Oct 21

Initiation: It is just a beginning... and a very good one!

With the recent acquisition of producing assets in the US, Canadian Overseas Petroleum (COPL) has started a new chapter in its existence and has already transformed its value proposition to investors. Following the recent operational developments, we are already seeing potential for a significant additional value accretion in the next 12 months, not only from the producing Barron Flats Unit (BFU), but from several other opportunities as well. The potentially better-than- expected production ramp

Companies: Canadian Overseas Petroleum Limited

12 Oct 21

Pantheon Resources (PANR) - Elephants in close quarters

Based on the success of the Talitha #A well result, we are upgrading our fair value estimate for Pantheon Resources to 172p (from under review; and from a pre-drill fair value estimate of 89p). We believe that the Talitha #A result confirmed the presence of multiple oil-bearing conventional oil reservoirs that have success-case potentials of elephantine scale. Our valuation reflects only the potential of Pantheon Resources' prime assets for which resource estimates have been provided; namely, Th

Companies: Pantheon Resources plc

13 Oct 21

LIBERUM: Vertu Motors - Strong H1, record September

Companies: Vertu Motors PLC

15 Oct 21

An opportunistic capital increase

ITM yesterday announced a capital raise of £250m to expand its capacities significantly. This comes sooner than we expected and seems like an opportunistic move to capture the market. The company will use the proceeds to expand its capacities to 2.5GW from 1GW by 2023 and to 5GW by 2024. The remainder of the proceeds will be used to reduce H2 production costs and to build an unparalleled support service. Overall, we are positively surprised.

Companies: ITM Power PLC

13 Oct 21

LIBERUM: Luceco* - Acquisition signals next growth phase

Companies: Luceco PLC

11 Oct 21

Cenkos: Seeing Machines Ltd -- Global agreement with Shell

Seeing Machines, the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has announced that it has signed a Global Framework Agreement with Shell Global Solutions International BV for the provision of its Driver Distraction and Fatigue Technology (Guardian) to enhance safety across its worldwide operations. Shell, the global energy and petrochemical major, has more than 80,000 employees in over 60 countries and its employ

Companies: Seeing Machines Limited

13 Oct 21

Q3 Trading Update

Another record quarter – Guidance lifted again Capital Limited LSE: CAPD) this morning announced its Q3 2021 trading update. Quarterly revenue of US$$61.6 million exceeds our expectations and represents another record quarterly result for the company beating Q2, itself a previous record, by 12.6%. As a result, full year guidance has been lifted to $220 – 225 million (up from $200 – 210 million guided in July and $185 – 195 million with the FY20 results).

Companies: Capital Limited

11 Oct 21

Spectra Systems (SPSY) - Materials order and extension – earnings quality shines through

Spectra Systems, a leader in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, has announced a significant order and five year extension with a key central bank customer. The extension gives Spectra even greater certainty with respect to covert material orders over the coming years, in the lead up to a sensor refresh programme worth up to $42m (plus development revenues and a multi-year year repair services agreement). Further, the

Companies: Spectra Systems Corporation

13 Oct 21

Minority investment in Adaptix

Avingtrans has invested £2.5m in cash in Adaptix Ltd to acquire a 5.9% holding by participating in Adaptix’s latest £12.9m funding round. Adaptix is looking to transform radiology by bringing to market its low cost, low dose portable imaging technology based around its proprietary Flat Panel X-ray Source (FPS). Avingtrans intends to collaborate with Adaptix to develop a disruptive business offering that envisages bringing together its low cost 3D MRI, through Magnetica, with Adaptix’s 3D X-ray a

Companies: Avingtrans plc

13 Oct 21

Vertu Motors PLC (VTU LN) - Inbuilt resilience and execution

Vertu has delivered an impressive set of record H1 results, which showed strong volume outperformance and pricing discipline across all markets. We are raising our FY22 forecasts by 19% to reflect current management guidance and leave our FY23/24 forecasts unchanged for now. Our near term value per share increases to 86p implying a healthy risk reward profile from here.

Companies: Vertu Motors PLC

13 Oct 21

Cenkos: Seeing Machines Ltd -- European sales team

Seeing Machines, the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has announced that it has established a European sales team, headquartered in Amsterdam, to lead the next phase of its business development and focus on growing demand in Europe for its Aftermarket driver safety technology, Guardian. Gerard van den Houten has been appointed to head up the European team and comes to Seeing Machines with a strong sales

Companies: Seeing Machines Limited

11 Oct 21

Hybridan Small Cap Feast 11/10/2021

Joiners TMT Acquisition (TMTA.L) has joined the Main Market (Standard) pursue opportunities to acquire businesses in the technology, media and telecom sector. Raised £5m, mkt cap £5.5m. Leavers NMCN Plc has left the Main Market (Premium) following the appointment of administrators. What’s cooking in the IPO kitchen? Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company's investment objective is to provide investors with an attractive

Companies: SEE FST ORCP DNL FDBK 8091 IGP

11 Oct 21

Suffering from the supply-chain challenges

Asos has published worse-than-expected FY21 figures. The global supply-chain challenges and COVID-19 related disruptions in Asia have impacted the Q4 21 trading performance. The group’s CEO will step down after 12 years at the group. The latter has warned that the industry-wide supply chain pressures and cost inflation will weigh on its activity in the next 12 months.

Companies: ASOS plc

12 Oct 21

Cenkos: Calnex Solutions plc -- Trading update and forecast upgrade

Calnex Solutions has announced that due to continued strong levels of trading throughout H1/22, expected to be maintained in H2/22, FY22E revenue and profitability are anticipated to be materially ahead of expectations. We have consequently upgraded our PBT forecasts for FY22E and FY23E by 27.2% and 20.4% to £5.6m and £6.0m respectively. Calnex continues to accelerate its investment in R&D and broaden its product roadmap to benefit from the significant underlying growth drivers within the worldw

Companies: Calnex Solutions Plc

13 Oct 21

West Newton Well Test Update

The results of the recent Extended Well Test (EWT) programme at the West Newton project site located within UK onshore licence PEDL183 (UJO: 16.665%) have confirmed that the WNA-1, WNA-2 and WNB-1z wells represent significant hydrocarbon discoveries within the Kirkham Abbey formation. In this regard, the operator has issued updated best estimate in-place hydrocarbons volumes for the wider licence area and will now sanction several external studies which will encompass a range of potential reserv

Companies: Union Jack Oil Plc

16 Oct 21

French media rumours of Bolloré exiting African activities

Bolloré could be looking to exit its long-standing logistics activities in Africa according to French media. Although the company has not commented on the matter — so it remains all speculation — we see this potential move as a clear positive. Bolloré is faced with the high capital intensity of the business while affronting competitive pressures from deeper-pocketed and expanding rivals. Supportive valuations for logistics & port operators and the upcoming departure of Vincent Bolloré suggest th

Companies: Bollore (BOL:EPA)Bollore SA (BOL:PAR)

15 Oct 21

Oxford Cannabinoid Technologies on progress since listing, including Canopy Growth Corporation deal

15 Oct 21

Hybridan Small Cap Feast 15/10/2021

Joiners Light Science Tech Holdings (LST.L), the controlled environment agriculture technology and contract electronics manufacturing Group has joined AIM. Raising £5.2m. Market Capitalisation approximately £17.4m. Leavers No Leavers Today. What’s cooking in the IPO kitchen? Gymshark has started to put together plans for a stock market listing according to City A.M. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was founded by teen

Companies: NWT LTG ITM POW

15 Oct 21

Sensyne Health agree deal with OMNY Health to give it access to a more than 22mln dataset

15 Oct 21

NextEnergy Solar Fund host COP26 President Alok Sharma at one of their solar farms, Llanwern

15 Oct 21

NextEnergy Solar Fund get set for COP26, presenting their role from one of their solar farms, Llanwern

15 Oct 21

NextEnergy Solar Fund get set for COP26, presenting their role at one of NextEnergy Capitals subsidy-free solar farms, Llanwern

15 Oct 21

Adriatic Metals now fully funded to build flagship Vares silver project in Bosnia & Herzegovina

15 Oct 21

Downing Strategic Micro-Cap Investment Trust Webinar September 2021

15 Oct 21

Walls & Futures present business model to investors as firm looks to expand shareholder base

15 Oct 21

Q3 21 trading update: good but not great

Pearson shares are down 12% this morning following the publication of the group’s 9-month trading update. The drop in Higher Education has dampened investors’ confidence.

Companies: Pearson PLC

15 Oct 21

IQGeo (LON: IQG) Presenting at the Proactive One2One Virtual Forum - 14th October 2021

15 Oct 21

Blackbird PLC (LON:BIRD) presenting at the Proactive One2One Virtual Forum - 14th October 2021

15 Oct 21

Accesso Technology Group PLC presenting at the Proactive One2One Virtual Forum

15 Oct 21

CoinShares - Tech-driven pioneer in digital assets

CoinShares International (CS) is a fintech business created to support the emergence of digital assets as a new investible asset class. However, it is more than a simple beta play on the bitcoin price, as its proprietary technology facilitates both regulated issuance platforms (with CS’s assets under management, AUM, at US$6.5bn currently) and gains derived from capital markets activities, including liquidity provisioning, non-directional trading and fixed income activities. Hence, CS benefits f

Companies: Coinshares International Limited

10 Jun 21

Agronomics (LON:ANIC) Presenting at the Cenkos Growth & Innovation Forum - Tuesday 8th June 2021

24 May 21

Agronomics set to 'completely disrupt the agricultural sector'

16 Jul 20

Market Report: FTSE 100 retreats as UK employment tumbles

06 Jul 21

FTSE sinks lower as traders await the US markets' opening with little major domestic news to chew on

22 Sep 21

FTSE upbeat ahead of Fed interest rate decision despite gas price hikes dominating UK headlines

13 Sep 21

Chesnara 'expands size of UK business as consolidator' with Sanlam Life & Pensions UK Limited (SLP)

11 Jun 21

Sirius Real Estate grows dividend by over 10%, revealing 'good year' in terms of output and results

21 Jul 20

Morning Report: Vaccines and EU package lift FTSE 100

18 Aug 21

Deltic Energy present details of farm-out deal with Cairn Energy PLC and how it benefits the firm

10 Mar 21

bet-at-home - executive interview

02 Jun 21

Open Orphan has 'firmly established its core pharma services offering'

07 Sep 21

Bango delivers strong rise in first-half revenue as online spending surges

11 Aug 21

Lowland Investment Company plc - Janus Henderson Investors

03 Dec 20

Market Report: Brexit woes and UK supermarkets' pay back government support

26 Aug 21

Most viewed research