According to Kathimerini (website), the list of measures Greece presented to its creditors over the weekend in Brussels is nowhere near the pre-election rhetoric – this is hardly a surprise; We believe if the current administration was not willing to compromise…
In this RG F4T we focus on OPAP: despite having one of the most interesting/promising investments cases in our Greek Universe it has underperformed the market on a 3M and 6M basis (by 0% and 7%). Shares trade 12x EPS 2015E and 9x EPS 2016E vs. RGUniverse (x-banks, OPAP) 16x EPS in both 2015E and 2016E….
An agreement with Greece and its creditors should be struck soon. We reckon each side will ‘sell this’ differently. Watch out for …to access this note contact@researchgreece.com
In this RG Food 4 Thought we summarize our (updated) thoughts on Greece.With time running out we conclude Greece will back down first as the alternative is a no go … long term gains will depend on Greece honoring the deal – squaring the circle … we believe the agreement struck will be from … to access…
We have argued investors should focus more on the cash flow rather than profits. In 2014 the group managed net income of E142m and FCF of E16m. We believe cash flow was short vs. market’s expectations – as we type market cap is at E1.8bn and EV at E1.9bn. At ResearchGreece OWN IT rated stocks…