The investment thesis here is simple: competent management leveraging operational team excellence, while adding value through corporate activities (think branding, tech stack and contract wins). The upside is a downtrodden share price providing a favourable entry point to a leading participant in the sector.
“The world has fundamentally changed” was the opening line of CEO Ben van Beurden this morning before he went on to “rebase” (read: cut) the Royal Dutch Shell (RDS.A) dividend from $0.47 to $0.16 cents per share.
Recent declines from circa £70 per share to circa £50 per share merited a renewed analysis of Games Workshop. The fundamentals remain solid, with the company well positioned to deal with any uncertainty caused by COVID-19.
Walgreen Boots Analysis April 2020.
We take a look at at John Deere and provide an up to date analysis for April 2020.
We take a look back at our 2019 portfolio, and the year ahead.