Initial Equity Trading Comments - 15 May 2023

Hybridan Small Cap Feast - 23 Feb 23

23rd May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

SP Angel Spec Sits: Not Just a BRICK Company (LVCG LN)

LVCG has evolved to include four primary operating divisions that own and licence a network of live event brands to third parties for concerts, festivals, and events around the world. Based on these diversified revenue streams, we have developed baseline forecasts for LVCG for 2022E and onwards. Our revenue forecasts include assumptions for agreed events, license fees and ticket sales.

In the Flow

Industry flows - bond funds remain preferred over equities Risk appetite for equity funds remained subdued with last week seeing $4bn net outflows (negative in 8 of the last 9 weeks). Flows worsened sequentially for Asia/EM categories, but improved for US and European equities. Bond funds saw inflows for a 10th straight week (c.$8bn) with broad based inflows across US government, IG and HY funds. Listed asset managers flows - inflows into ETFs, outflows from mutual funds ETFs net inflows contin

Preferred Gen AI play

Relx has a 30+ year history benefiting from AI. We think Generative AI is likely to contribute to higher levels of growth and margin expansion. Recent share price weakness offers a buying opportunity in our preferred Gen AI play in Media. Relx - our preferred Gen AI play within Media We review the implications of Gen AI on professional information vendors and argue that Relx is well positioned to benefit. We raise our TP to GBP30 and see Relx as our preferred Gen AI play in European Media. See

Strength where it counts, quality where it matters

GenAI: How to Use It

You''ve been here before, right? Blockchain, the Metaverse - and now GenAI. Could this time really be different and the hype justified? The answer to this question is rooted in how GenAI can be used in the real world. In this report we thus challenge our sector teams to identify GenAI use-cases within their industries - and those companies likely to pioneer them. The result is perhaps the broadest consideration yet of how GenAI can diffuse through the economy. Efficiency is the common theme, pr

LIBERUM: Gateley* - FY 23 in line, strong balance sheet remains a differentiator

Conference Guide

Dear Client, Welcome to the 25th BNP Paribas Exane CEO Conference, marking the quarter-centenary of our yearly flagship event. Of course, our long track record doesn''t mean we''re resting on our laurels. Each year brings adaption, evolution and progress. In 2023, we''re particularly pleased to welcome nine US companies among the 118 blue chips, 100 CEOs and 900+ investors attending. This US engagement is a symbol of a truly global research house in the making. We''re growing in North America,

Morning Note – 31 May 2023

AXL LN/CN, LBE LN, PTAL LN/TAL CN, SOUC LN/SOU CN, VLE CN, ANGS LN, AST LN, BP LN, CEG LN, COP US, EME LN, EQNR NO, GTE LN/CN/US, ITH LN, KIST LN, TCF CN, TRIN LN, TTE FP, UOG LN

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: Zone at Carrizales Norte with no booked reserves has flowed >1 mbbl/d – The Ubaque horizon at the Carrizales Norte-1 (CN-1) exploration well was put on three tests, the last of which tested at 1,134 bbl/d of 13.5 API oil on pump. The flow rate was stabilized with a 28.3% water cut (completion fluid). The water cut has been decreasing throughout testing. This is a very go

DWF Group (DWF LN) - Growth accelerating, costs controlled

FY23E performance confirmed as broadly in line with forecasts. Revenue of £380m is +c.8.5% YOY, with H2 growth accelerating to +13.5% (FY23: +3.4%).

Inspired+ (INSE, House Stock, 12.25p) - Variation to Ignite contingent consideration

Hybridan Small Cap Feast - 22 Feb 23

22 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec

Auctus on Friday - 21/04/2023

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Target price of A$0.100 per share: Competent person report confirms the materiality of the Welchau pospect – The Welchau prospect has been estimated to hold between 365 bcfe and 1,128 bcfe of prospective resources by Gaffney, Cline & Associates (GCA) with a mid-case at 645 bcfe including 10.1 mmbbl of condensate. While this is below the 807 bcfe mid-case estimated by ADX, the fact that the lower end of the GCA ran