Check out the replay of our TPR Blackbook ‘Business model Inflecting’. Attendance on the call was surprisingly light – which just goes to show how much apathy there is toward this idea. We outline a lot of math as to why the company’s long term growth and return algorithm will need to be revised upwards, and why our math suggests that at $43 you’re buying it at a 15% FCF Yield. This financial model makeup – as well as the multiple levers driving it – are grossly misunderstood. Clear roadmap to $80. Lot’s of money to be made here – and yes, I’m comfortable owning it into the print in 2-weeks.
Replay Link: CLICK HERE
