Advanced Investment Memo (IC Memo)
You are writing an internal investment committee memo for a long/short equity fund. Company (fictional): LedgerLift (ticker: LLLT) – B2B…
LedgerLift (LLLT) — Internal IC Memo (Long/Short Equity) Recommendation, PT, thesis Recommendation: SHORT 12-month PT range: $28–$40 (midpoint $34) Thesis (2 sentences): LLLT is a high-quality B2B spend/AP automation SaaS business (92% subscription, 123% NRR, 78% FY25 GM) but the stock prices in a longer runway of…Read the full answer
INVESTMENT COMMITTEE MEMO – CONFIDENTIAL Ticker: LLLT Price: $46.00 Mkt Cap: $8.74B EV: $7.34B (8.9x FY25 Rev) Recommendation: SHORT 12-Mo PT Range: $30 – $38 (Base/Bull DCF) Position Size: 2-3% Net Short Thesis: LedgerLift is a high-quality compounding machine (Rule of 40+, 123% NRR, 18-mo CAC payback) trading at a…Read the full answer