cave canem schreef op 26 oktober 2017 09:01:
ter info " it's happening now " Morgan wacht het niet af, this is the moment.
MS TomTom " software transition "
the transformation from hardware to software & services is playing out even faster than we expected , with the ramp down of the consumer Sports business
we adjust our TP from 10,40 to 11,70 ( 12 months)
stock rating: overweight
revising forcast: we take our 2017 EPS forecast down by 16%, this mostly related to the quick execution on resturcturing the consumer sports biz
there is no impact on 2018 once this is executed
the plan is to ramp down the overall cosumer biz within 5 years - consumer consisting of the PND biz
as a result marketing expenses can be taken down by 25% this year and should continue to decline as the transistion plays out to software
the longer-term opportunity remains strong
software & services biz grow > 15% CAGR from 2016-2020
beyond 2020 increasing detailed maps for lvl 3 potetially shipping 2021/22 with large autos OEMs
we forecast EPS to treble
we are now reflecting the biz for valuation methology
we remain overweight with 21% upside to new price target 11,70 euro and 49% upside to our new bull case 14,40 euro
te lezen als:
11,70 euro voor 12-18 maand
14,40 euro voor 24-36 maand
mijn intake: stay Long the shares
continue to sell ver weg out of the money puts at decent premium en gewoon doorrollen naar hogere niveaus, mee met de stijging van het aandeel, mocht zich dit gaan ontwikkelen
super Long Play TT mi voor de komende jaren, enige handrem kan een algehele teruggang aan de beurzen zijn, dan nog zit je goed met TT long te zitten en put opties te kopen aan de indexen.
succes
14,40