equity-research

dtl

DTL: IT Services Stalwart - Microsoft's Margin Squeeze Meets Reality Check

Updated 8 Oct 2025

REDUCE rating with $5.50 target vs $9.06 current. Fair value $5.07 implies 44% downside. 71% ROIC, debt-free balance sheet offset by Microsoft dependency and margin compression.

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drr

DRR: Industrial Cooling Specialist - Overheating on Overvaluation

Updated 8 Oct 2025

Industrial cooling manufacturer trading 58% above $2.65 fair value with deteriorating competitive moat, value-destructive ROIC of 7.5% vs 10.5% WACC, and technology disruption risks.

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dow

DOW: Infrastructure Giant - Transformation Complete, Value Incomplete

Updated 8 Oct 2025

Infrastructure services leader trading at $6.89 vs $9.78 fair value following successful transformation. EBITDA margins at 10-year highs, 42% upside potential.

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dbi

DBI: Coal Terminal Monopoly - Regulatory Cliff Ahead, Value Trap Below

Updated 8 Oct 2025

Infrastructure monopoly trading at $4.77 vs $3.11 fair value. 6.0x leverage, 2031 regulatory renewal risk, 91% DCF downside. Quality score 5.1/10.

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cyc

CYC: Medical Device Specialist - Breathing New Life Into US Expansion

Updated 8 Oct 2025

Cyclopharm trades at $0.99 vs $1.18 fair value with 85% global market share in lung imaging, 29% revenue CAGR projected through US expansion

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CWP

CWP: Property Developer - Riding the Housing Shortage Wave Before the Tide Turns

Updated 8 Oct 2025

Hold rating with $7.84 fair value vs $7.37 current price. Strong execution capabilities offset by inevitable margin compression as housing shortage normalises.

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cuv

CUV: Biotech Profit Pioneer - Vitiligo's Victory Could Be Transformational

Updated 8 Oct 2025

Profitable biotech rarity with 90% EPP monopoly and transformational vitiligo opportunity. Fair value $19.94 vs current $10.89 implies 83% upside. Quality score 7.9/10.

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crn

CRN: Coal Miner - Going Concern, Going Broke

Updated 8 Oct 2025

Distressed metallurgical coal producer with negative fair value of -$0.21 USD, 65% probability of permanent capital loss, and September 2025 covenant testing creating binary outcomes.

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cqr

CQR: Convenience Retail Champion - Premium Price, Perilous Position

Updated 8 Oct 2025

HOLD rating with $3.25 fair value vs $4.08 current price. 20% downside risk from premium valuation and unsustainable 0.61x distribution coverage.

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cqe

CQE: Social Infrastructure REIT - Defensive Assets, Dangerous Concentration

Updated 8 Oct 2025

Market-leading social infrastructure REIT with 15.2% share faces critical tenant concentration and refinancing risks. Fair value $1.80 vs current $0.97, though probability-weighted analysis suggests $0.57 reflecting structural challenges.

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cpu

CPU: Financial Infrastructure Fortress - Peak Margins Meet Mean Reversion Reality

Updated 8 Oct 2025

Computershare trades near $17.95 fair value with 37.7% EBITDA margins facing compression to 33% over 3-5 years. Quality defensive business with 5.5% yield.

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cos

COS: Asset Management Transformer - Service Evolution or Execution Illusion?

Updated 8 Oct 2025

COSOL trades at $0.60 vs $0.96 fair value amid AMaaS transformation. 13.4% revenue growth forecast, 14.8% peak margins by FY28. Quality score 5.7/10, narrow moat, high execution risk.

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