5/22/24 - $mdt - uninteresting, need a heavy discount to care :/
5/22/24 - vrockstar -
MDT
- valuation interesting at 17x PE for what looks like a nice cash generator (6% fcf yield minimally). the issue is really growth which is either flat at best this yr or probably -ve. these unfortunatley are simply un-ownable companies in this tape which is prioritizing growth-ONLY. so while i'd be interested lower and am setting a flag (good mgn, good cash gen), it's probably not something i'd want to swing long on into the print b/c it's something that (second order thinking) i'd not be willing to size up on a miss, and also probably we won't get a catalyst enough to size up into a beat either. i'd stay on the sideline and get greedy if this one's on your radar. setting my tgt closer to $70, which while I don't believe will go there this print, is the only px i'd be willing to engage.
MDT
- valuation interesting at 17x PE for what looks like a nice cash generator (6% fcf yield minimally). the issue is really growth which is either flat at best this yr or probably -ve. these unfortunatley are simply un-ownable companies in this tape which is prioritizing growth-ONLY. so while i'd be interested lower and am setting a flag (good mgn, good cash gen), it's probably not something i'd want to swing long on into the print b/c it's something that (second order thinking) i'd not be willing to size up on a miss, and also probably we won't get a catalyst enough to size up into a beat either. i'd stay on the sideline and get greedy if this one's on your radar. setting my tgt closer to $70, which while I don't believe will go there this print, is the only px i'd be willing to engage.