1. Stocks Despite consistent top-line growth, concerns remain over the sustainability of the company’s margins amid rising operating costs.While management reiterated confidence in long-term targets, the guidance offered limited visibility—particularly around international expansion.Given the valuation discount and recent earnings upside, we believe the stock remains undervalued relative to peers.

1. Stock pitch I'd like to pitch a long idea on Encompass Health Group, the largest provider of post-acute care services in the U.S., operating over 160 hospitals across the country. There are three core reasons for this recommendation: structural demand tailwinds, operational defensibility, and an attractive valuation. First, the aging U.S. population continues to drive sustained demand in the ..

1. Stock market Dear Joon, Please see below for a brief update regarding our client, Project Pluto. The client has expressed concerns about the timing of the IPO, given the recent volatility across the equity markets. As previously discussed, sentiment continues to be weighed down by policy uncertainty and recessionary risk. That said, we believe it remains advisable to proceed with the IPO with..