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Best Research Award 2007

Edison Investment Research, winners of 'Best Research Award'

Sector research

Date Report details Download
May 27
2008		 Software as a Service sector report - Smoothware
Title: The provision of Software as a Service has been around for over a decade. However, it is only in the past few years that high-speed networks and the investment in scalable architectures have enabled the emergence of a number of well positioned UK business models. In our view valuations largely reflect the negative short-term impact of SaaS delivery on revenue recognition and therefore earnings. However, importantly, these businesses have the opportunity to take market share, have high visibility of future cash flows and should significantly outperform the IT sector over the next three years. 		Download via Reuters Download via Thomson
May 15
2008		 Obesity sector report - Fat Chance
Title: Over the past few years obesity has been labelled a global ‘epidemic’ responsible for rising healthcare costs, but current treatments have been beset with side effects or have shown insufficient efficacy. With several new treatments now in late-stage development, the obesity sector is likely to see significant interest from big pharma over the coming 18 months and could offer significant rewards for discriminating investors. 		Download via Reuters Download via Thomson
Oct 23
2007		 Junior Oil and Gas - Golden Barrels
Title: We believe that the current oil price environment has restricted the ability of investors to garner material upside from companies with assets weighted towards production or late-stage development as these assets are near fully priced. Instead we draw investor attention to 10 companies that have a compelling mixture of exploration geared upside with operational qualities that optimise the risk/reward balance. Using Expected Monetary Value (EMV) analysis to build a portfolio of these companies further reduces investor risk, allowing exposure to the potential of high returns from exploration. 		Download via Reuters Download via Thomson
Jul 02
2007		 UK Junior Mining Sector Focus - Pay dirt
Title: Companies going into production deserve a rerating in the market given the positive near-term outlook for commodities and the de-risking of the investment proposition. We draw investor attention to 10 companies on the cusp of production; highlighting especially Mercator Gold, Medusa Mining and Serabi Mining as three gold miners with production online now and deserving of a rerating in the short term. 		Download via Reuters Download via Thomson
Nov 01
2006		 Sector Report - UK Smaller Telecoms
Title: Within the broad UK telecoms sector, the smaller independent communications services resellers are well placed to grow revenues and profits by driving consolidation within the huge and fragmented SME market. Entities such as Alternative Networks and AT Communications are structured to serve this market and are ready for the rollout of new converged technologies. Demand for traditional voice and data services from UK SMEs remains huge and this sector offers an interesting consolidation play.		 Log in to download
Mar 10
2006		 Vehicle distribution sector - The action has started
Title: The vehicle distribution segment of the retail sector has performed strongly over the past six months, with the share prices of the three leading independent dealership groups averaging a 51.1% advance since the beginning of October compared with just 7.6% for the FT All Share index and 17.1% for general retailers. The much vaunted momentum of industry consolidation has started to accelerate, while the City is also reassessing the quality of earnings in a segment where profits continue to rise despite falling new car registrations. 		Log in to download
Feb 23
2005		 Gambling Sector Review
Title: A New Way to Win Online gambling is already a significant new industry with 2004 revenues (amounts lost by gamblers) worldwide exceeding $8bn or 37% higher than in 2003. However, they still represent little more than 2% of the total world market. There is enormous scope for continued growth as existing gamblers are tempted to play online and as new users are attracted to the medium. 		Log in to download
Sep 22
2003		 UK New Car Retailing
Title: Review of UK New Car Market		 Log in to download
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