March 31, 2026
Investment Thesis The March 20, 2026 Intex/Guggenheim ABS surveillance data (Ex. 4) — reviewed and confirmed through a proprietary channel discussion with a senior structured products professional — is the most important document in the…
March 30, 2026
We initiate on Modine Manufacturing at BUY with a Street-high $290 PT as the analyst community fails to give Modine credit for a NAM data center chillers capacity ramp that will drive accelerative trends at…
March 30, 2026
Investment Conclusion We reiterate our Sell rating and $24.86 12-month price target on Tesla (TSLA). Our final Q1 2026 delivery model — incorporating GLJ’s proprietary VIN-based US production channel check, CPCA/CNEVPost China production and delivery…
March 26, 2026
I. Investment Thesis We are maintaining our SELL rating on Sunrun (RUN) with an updated price target of $4.63, implying approximately 63% downside from current levels. Our conviction has strengthened following a direct channel check…
March 22, 2026
We see partial validation of our white-space thesis as management unveiled new long-term targets ahead of the Street that met buyside expectations. Expect further long-only follow-through after management spoke to accelerative data centers execution and…
March 19, 2026
(a) The Quarter – A Clean Miss Dressed Up in Project Asset Language Q4 revenue of $1.217B missed the $1.355B Consensus estimate by ~10% — a wide miss for what is supposed to be a…
March 18, 2026
Investment Thesis We reiterate our SELL rating on JinkoSolar (JKS US) and adjust our 2026E yr-end PT modestly higher to $12.10 (-51% downside) from $10.15 prior on our updated estimates. The March 12, 2026 PV…
March 16, 2026
We digest client feedback and note a consensus that management will significantly lower company-wide incremental margins from pre-Thermal divestiture guided mid-30’s with buyside bogeys clustering around mid-20’s incremental EBIT margins. We break apart the puts…
March 16, 2026
Investment Thesis – Estimate & Macro Update We reiterate our SELL rating on CLF and keep our 12-month price target flat at $9.42/share — reflecting the February 10 GLJ update note valuation methodology (13.0x 2026E…
March 16, 2026
Investment Thesis – Management Feedback We had a chance to catch up with Nextpower management (IR contact: Sarah Lee) on March 13, 2026 for a 36-minute discussion covering eight topics spanning the company’s product strategy,…
March 12, 2026
Austin FSD Rollout Failure: Fleet Collapse, Crash Data & Management Exodus EXECUTIVE SUMMARY This update incorporates three new data layers since our June 5th, 2025 initial Austin note: (1) NHTSA-sourced crash rate analysis confirming Tesla’s…
March 10, 2026
The Supermarket Thesis The core insight is structural, not cyclical: NXT’s customers are consolidating, and NXT is one of the only vendors with the execution capability to consolidate their SKUs vertically. This is a supermarket…
March 5, 2026
We initiate coverage on nVent Electric at BUY w/ a street-high $151PT and estimates to match. We believe that despite management’s best efforts, the analyst community is mismodeling the size and growth of NVT’s liquid…
March 5, 2026
We initiate coverage of POWL at HOLD with a $450PT as channel checks and management commentary call into question the data center narrative priced into the stock. We model +MSD% upside to sellside numbers, but…
March 5, 2026
We initiate coverage on Solaris Energy Infrastructure at BUY with a $60PT even as BYoG power generation continues to prove itself through incremental contracting at extended durations. Speed-to-power continues to resonate in industry conversations as…