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Terex Corporation Message Board

  • cbd0012003 cbd0012003 Jul 17, 2013 8:30 PM Flag

    James

    What are you looking for out of COF's earnings report to confirm your thesis and price target?

    Thanks!

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    • wow their earnings were incredible.

      To recap I sold TEX @30 on April 25 and bought COF at 58. Since then well we know how much better I have done.

      Anyways COF reported a monster quarter $1.1B which is what I got as their normalized profitability estimate and MY ESTIMATE ISN'T GAAP!

      They just did GAAP $1.1

      So my estimate adds back intangible asset amort of 167 and warranty provision of 183.the 183 is added back since I took their charge to tangible book value in my valuation for my estimate of their warranties. I also don't think this wll be recurring much longer.

      On top of that they have $50M of restructuring per quarter going down to basically $0 next year.

      So you have a way that COF earns close to $6B annual and its trading at $40B. Its buyng back lots of stock gong forward. So you're buying back stock trading at 50 cents on the dollar.

      All said I think its worth $120++++++++++++

      So I am quite bullish on COF as I said my favourite investment 2 months ago and still my fav

 
TEX
21.20-0.02(-0.09%)Feb 5 4:02 PMEST