Research Vault

  • All Initiation Reports have the price at initiation and upside potential listed
  • Bias towards small and mid capitalizations; sector agnostic; about 90% U.S. & 10% Foreign names
  • Each "Open" position will be sized between 5%-15% in the Pernas Portfolio
  • All closed positions will have the performance result listed
  • About 40% of Pernas Research's Initiation Reports receive a "neutral" rating. Read about why we publish neutrals here

(NYSE:LEU) Centrus Energy: A Low Risk High Reward Play On Uranium

Centrus is a compelling risk-reward play on the future of US uranium enrichment. It is the sole US-owned uranium enrichment manufacturer, representing billions of dollars of IP and centrifugal technology. Combined with their recent price reset on their long-term contracts making them considerably more profitable, there are multiple ways to win with Centrus. Background Centrus Energy (LEU) represents the efforts of the American government’s uranium enrichment program that was spun off in 1999 for roughly 3B dollars. It was heavily reliant on government backing to support its facilities and after…

    • Initiation Price: $10.04
    • Upside: 200%
    • Current Status: Closed
    • Result: +350%

(NYSE:DFIN) Donnelley Financial: A Tale of 2 Companies

Donnelley Financial (DFIN) has seen declining revenues since its spinoff and investors have written it off as a dying print business. It is easy to overlook its incredible brand strength in certain business segments along with the successful transitioning of a growing share of its revenue to SaaS with this overhang. For a few key reasons discussed in this article, we believe their fundamentals are now poised to improve and there is 100% upside for investors from current levels. Background DFIN spun off from RR Donnelley in 2016. The company…

    • Initiation Price: $8.11
    • Upside: 150%
    • Current Status: Open

(NYSE:FC) Franklin Covey: An Undervalued Brand With An Overlooked SAAS Segment

The market has punished Franklin Covey’s (NYSE:FC) stock price, sending it tumbling 50% YTD. Given its solvency and growing SAAS segment, FC has about 100% upside to its valuation today. Background Franklin Covey is a leader in the highly fragmented L&D (Leadership and Development) corporate training industry. It is best known for content such as The 7 Habits of Highly Effective People. On average, roughly $100 billion is spent on external providers such as FC per year. This is set to grow by 13% CAGR for the next four years.…

    • Initiation Price: $23.44
    • Upside: 100%
    • Current Status: Closed
    • Result: +120%