market folly

We're posting up notes from the Capitalize For Kids Sohn Canada conference that just took place.  Next up is Aaron Cowen of Suvretta Capital who pitched long Burger King Worldwide (BKW) and long Liberty Global (LBTYA / LBTYK).


Aaron Cowen's Sohn Canada Presentation

Pitched LONG Burger King Worldwide (BKW). Believes the stock has bond like features and can generate $2/share FCF. Mentioned Tim Horton’s deal was a huge “game changer”, especially considering the backers, 3G Capital. Can cut lots of costs within Tim Horton’s and turn it into a more profitability franchiser (similar to early days at BK following 3G deal). Thinks there is a possibility for another deal, a pizza chain perhaps.

Next, pitched LONG Liberty Global (LBTYA / LBTYK). An amazing compounder with legendary management team and board (John Malone). Experiencing topline growth and has the German asset upside. Should trade at a 7.5 yield, resulting in a price target of $60.

Be sure to check out the rest of the presentations from Capitalize For Kids Sohn Canada here.