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) — Investment Committee Memo Recommendation: Short 12-month price target: $30–$44 Thesis. LedgerLift has attractive subscription economics, but at $46 the stock prices in substantially more durable cash flow than the supplied operating assumptions produce: base-case DCF value is about $28 per share…Read the full answer
MEMORANDUM TO: Investment Committee FROM: TMT Research Team DATE: October 26, 2023 SUBJECT: LedgerLift (LLLT) – Long Idea: Undervalued Quality in Mid-Market AP Automation Recommendation Rating: LONG 12-Month Price Target: $68 – $74 Thesis: LedgerLift is a best-in-class mid-market spend management platform trading at a…Read the full answer