"Our estimates are more conservative than management's 2015 targets"
Lowe's Companies, Inc. · LOW
Pershing Square · p. 19
Callouts & quotes from 875+ activist slides
Every emphasised callout and every pulled quote, extracted slide-by-slide. Search by keyword, filter by slide type or by source.
"We Estimate 70% - 95% Downside Risk Potential To IPX’s Share Price"
IperionX Ltd. · IPX
Spruce Point Capital · p. 85
"We believe our 24% EBIT margin estimate for P&G is very achievable"
Procter & Gamble · PG
Pershing Square · p. 27
"By our estimate, working capital to sales has worsened materially."
Amcor plc · AMCR
Spruce Point Capital · p. 41
"Street estimates show margin gap persisting at NSC through 2026."
Norfolk Southern Corporation · NSC
Ancora · p. 31
"By our estimate, Bunge's 2025 Adj. EBITDA fell -24% below plan."
Bunge Global SA · BG
Spruce Point Capital · p. 49
"“Company estimates” (i.e., “we made it up”) — Wolfpack Research"
Inspire Medical Systems, Inc. · INSP
Wolfpack Research · p. 14
"We Estimate that CPI PG Overvalues Bubny by Approximately 100%"
CPI Property Group S.A. · CPIPGR
Muddy Waters · p. 24
"We caution that customer equivalents is just WTRG's estimate."
Essential Utilities, Inc. · WTRG
Spruce Point Capital · p. 61
"Sellside only estimates $13bn of sales from its acquisitions"
Pfizer Inc. · PFE
Starboard Value · p. 45
"Elliott estimates $148mm of tax savings from REIT conversion"
Iron Mountain Incorporated · IRM
Elliott Management · p. 32
"We estimate the currency hit was more likely $0.29 - $0.38c."
Mettler-Toledo International, Inc. · MTD
Spruce Point Capital · p. 58
"Sellside only estimates $13bn of sales from its acquisitions"
Pfizer Inc. · PFE
Starboard Value · p. 45
"WE ESTIMATE FLEET CUSTOMERS' ACTUAL ROI IS NEGATIVE: -53.1%"
XL Fleet Corp · XL
Muddy Waters · p. 24
"We estimate that BOL's net assets are worth €11.43 billion."
Bolloré SA · BOL FP
Muddy Waters · p. 11
"Sandell estimates of maintenance capex: ~1.0x depreciation"
FirstGroup plc · FGP
Sandell · p. 39
"We estimate $2-$4bn of excess corporate costs (annually)."
E.I. du Pont de Nemours and Company · DD
Trian Partners · p. 38
"We estimate $2-$4bn of excess corporate costs (annually)."
E.I. du Pont de Nemours and Company (DuPont) · DD
Trian Partners · p. 9
"We estimate $2-$4bn of excess corporate costs (annually)"
E.I. du Pont de Nemours and Company (DuPont) · DD
Trian Partners · p. 34
"We estimate $2-$4bn of excess corporate costs (annually)"
E.I. du Pont de Nemours and Company (DuPont) · DD
Trian Partners · p. 38
"We Estimate MCY’s Policyholder Losses Exceed $2 Billion"
Mercury General Corporation · MCY
Wolfpack Research · p. 8
"We consider this estimate to be conservative because:"
China Huishan Dairy Holdings · 6863 HK
Muddy Waters · p. 14
"2026 consensus estimates indicate a $4.0bn shortfall"
Phillips 66 · PSX
Elliott Management · p. 28
"~30% of 2014 estimated sales are in emerging markets"
Allergan, Inc. · AGN
Pershing Square · p. 29
"Total Estimated Stock Price Appreciation 94% to 153%"
Hess Corporation · HES
Elliott Management · p. 23
"2026 consensus estimates indicate a $4.0bn shortfall"
Phillips 66 · PSX
Elliott Management · p. 28
"FWRD shares trade at 8.6x NTM EBITDA estimates."
Forward Air Corporation · FWRD
Ancora · p. 23
"We Estimate 65% - 85% Potential Downside Risk"
Uranium Energy Corp · UEC
Spruce Point Capital · p. 35
"Trading Price Estimate July 31, 2013 $44.57"
American Tower Corp · AMT
Muddy Waters · p. 84
"Estimated weighted average value: $18.1/kg"
e.l.f. Beauty, Inc. · ELF
Muddy Waters · p. 28
"Spruce Point Estimates 75% – 80% Downside"
Monolithic Power Systems · MPWR
Spruce Point Capital · p. 95
"Spruce Point Estimates 35% – 50% Downside"
Canadian Tire Corporation · CTC.A
Spruce Point Capital · p. 102
"Spruce Point Estimates 40% – 50% Downside"
Boot Barn Holdings, Inc. · BOOT
Spruce Point Capital · p. 89
"REIT NOI is estimated to grow 8% in 2022."
REIT sector (thematic)
Land & Buildings · p. 2
"Aurora's TAM estimate is delusional."
Aurora Innovation, Inc. · AUR
Kerrisdale Capital · p. 5