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Thursday September 15, 2022, 01:01:29

Tale Of The Tape: Carpenter Technology Versus Haynes International

By Chris D. Olin

Hello Fight Fans! Welcome to another “Tale of the Tape.” A unique report best described as another way for Tier4 Research to highlight areas of change, identified by proprietary channel checks, with a fresh look at the potential winners/losers selected from various peer groups. Today’s research undercard focuses on specialty materials, an underfollowed space exhibiting healthy trends and sequentially stronger survey data points. Do not be fooled. We are not talking about titanium, the product group that monopolized our research time and energy last month. This time we investigated the surprising nickel-based alloy market strength and bullish feedback offered by industry contacts in recent days. Companies within our coverage universe levered to upstream production seem ripe for outperformance and upward estimate revisions on robust demand/pricing undercurrents and incremental volume opportunities tied to PCC market share spillage. With that introduction out of the way, we are excited for the main bout which features two STRONG BUY rated contenders vying for the title of TOP PICK: Carpenter Technology (CRS) and Haynes International (HAYN). Continue reading

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Monday August 16, 2021, 01:37:54

Tale of the Tape: General Electric Versus Rolls-Royce

By Chris D. Olin

A pre-fight company comparison between General Electric (GE) and Roll-Royce (RR), including global market analysis supported by the release of new industry data points, collection of channel insights, and future commercial aircraft build rates confirmed our underlying view regarding the relative strength in GE/CFM demand and the aircraft/engine programs driving the optimistic production and aftermarket services outlook. While Rolls-Royce recently issued multi-year jet engine production schedules to their global suppliers that included downward revisions, the GE procurement team seems to be reiterating optimism and upward bias to CY22-23 expectations. We still expect the aggressive production outlook to culminate into a surge in parts and materials sourcing. Continue reading

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