Published: May 29, 2015
Buying an industry leader trading at trough valuation due to technology transition. Upside in the stock will be driven by a re-rate of its earnings multiple to a less steep discount relative to its tech sector peers, once its core business stabilizes and its growth initiatives start to take hold.
Published: January 30, 2015
We are initiating coverage of Oracle Corporation with a BUY rating and a 24-month price target of $63. Oracle is a money machine that prints $1.2 billion in free cash flow per month. Oracle has an extremely valuable “razor and blades” business model, which is being substantially undervalued in it...
Published: January 09, 2014
Baupost's strategy is denoted by extreme concentration in the firm's long-only, public equity fund (which tends to constitute between 5-15% of the total value of the firm--the balance is in real estate, bonds, cash, hedges, etc.). By September of 2013, the firm’s top three equity holdings made up...
Published: October 04, 2013
Oracle is a great company at a great price. As management continues to return their $14bn in free cash flow to shareholders in the coming years the stock should re-rate materially higher. Attached is a write-up that is intended as a high-level overview of the company and discussion of why the sto...