Jet2 – Initial Equity Research
Jet2 Initial Equity Research: business model, package holiday growth, A321neo capex cycle, balance sheet strength, valuation and key risks
HBX Group – 1H26 Results Iran
HBX Group operates as a large-scale B2B travel distribution platform, sitting between hotels and a global network of distributors - tour operators, online agencies, airlines and retail travel agencies. The…
Meal vouchers reduce employer cost by ~25% versus equivalent salary while delivering ~30% higher purchasing power to employees, thanks to favourable tax treatment. That structural value creation underpins the model's resilience. Source: Pluxee.
Pluxee (PLX.PA) Analysis – Is the Market Overpricing Brazil Regulatory Risk, or Not?
In-depth Pluxee analysis covering the business model, float income, Brazil regulation, valuation, balance sheet, key risks and our independent view.
Kosmos Energy – Goldman Downgrade
Kosmos Energy analysis by MORAM Capital: Goldman Sachs downgrade, debt profile, DCF valuation, refinancing risk, independent equity research.
Corporación America $CAAP: Record FY25 Results, but the Stock Sells Off on Iran Risk
Corporación America reported record FY25 results, but the stock sold off on Iran-related risk. Updated Equity Reseach, FCF, $CAAP valuation..
NewPrinces has grown from a regional Italian food operator into a European agri-food giant with revenues exceeding €7bn and over €400M of EBITDA. Source: MORAM Capital.
NewPrinces – Comments Before FY25 Results
NewPrinces has grown from a regional Italian food operator into a European agri-food giant with revenues exceeding €7bn and over €400M of EBITDA. Source: MORAM Capital. NewPrinces — formerly Newlat Food — is one of the...
Initial Equity Research: Sky Harbour Group SKYH
Moram Capital initiates coverage on Sky Harbour Group (NYSE: SKYH), the company building the first nationwide network of private hangar campuses for business aviation in the US. Full analysis: business model, unit economics, campus pipeline, debt structure, valuation and risks.
Kosmos Energy – Updated Equity Research
Kosmos Energy - Updated Equity Research Kosmos is a company we have been following since 2020 due to its relationship with Golar LNG in the Greater Tortue Ahmeyim (GTA) LNG project, where, together with BP, it...
Pluxee, spun off from Sodexo in 2024, is the world's second-largest employee benefits platform operating in 31 countries. Source: MORAM Capital.
Pluxee – Initial Equity Research
MORAM Capital initiates coverage on Pluxee: business model deep dive, regulatory impact (Brazil, Italy, France) independent valuation...
