Consumer Staples

Conagra: Keeping My Expectations Low Ahead Of Earnings (Archive)

Conagra’s discounted valuation offers upside, but weak execution tempers my near-term expectations.

Costco: Value For Customers But Not For Investors (Archive)

Costco’s stellar customer value contrasts with stretched valuations and weakening investor return drivers.

British American Tobacco: Fighting An Uphill Battle (Archive)

BTI’s value trap deepens as secular decline and illicit vapes overpower cheap valuation.

British American Tobacco: It's Still A Value Trap, But I'm Lifting My 'Sell' View (Archive)

British American Tobacco remains a cheap but catalyst-starved value trap, warranting only a cautious hold.

British American Tobacco: Why Do The Bulls Keep Getting This Wrong? (Archive)

BTI’s diversification and regulatory headwinds make this high-yield ‘value trap’ persistently dangerous.

British American Tobacco: Consensus Bulls May Be Wrong Again (Archive)

British American Tobacco remains a contrarian value trap despite non-combustible growth optimism.

British American Tobacco: A Weak Outlook (Archive)

Combustible volumes and value are slowing, and I expect further weakness ahead.