Select ONE target corporation from FTSE$100$ or S&P$500$ and write an equity research report which is similar in style and format to reports written by equity analysts.

Executive Summary

$$ Brief overview of the business, industry, and recent performance.

$$ Recommendation $($Buy$,$ Hold, or Sell$)$ with a concise rationale.

$2.$ Investment Thesis $/$ Investment Description

$$ Discuss the key reasons for the recommendation.

$$ Highlight their competitive advantages, growth prospects, and potential catalysts.

$$ Back up your recommendation with key rationales: merits and concerns. You need to make sure the recommendation and the rationales are consistent.

$3.$ Company Overview $/$ Business Description

$$ Detailed description of the business model, products$/$services$,$ and market position.

$$ Information about management, corporate governance, and key executives.

$$ Description of business model, e$.$g$.$ how the firm makes profit, where are the main sources of revenues and costs.

$4.$ Industry Analysis $/$ Competitive Positioning

$$ Overview of the industry in which the company operates.

$$ Market trends, growth drivers, and competitive landscape.

$$ Overview of the market, market shares of key players and selected firm, recent trends in the past $5$ years. The competitive strategies of selected firm, the market positioning of the firm and the key players along this dimension.

$5.$ Financial Analysis

$$ Historical financial performance $($revenue$,$ profit margins, etc.$).$

$$ Projections for future financials based on modeling $($e$.$g$.,$ revenue growth, EBITDA, etc.$).$

$$ Tabulate the important financial ratios $($grouped in categories, e$.$g$.$ profitability, liquidity, efficiency, leverage, etc$)$ using the historical financials for the last $5$ years. The assumptions and detailed forecast should be reported in an appendix.

$6.$ Valuation

$$ Valuation methods $($relative valuation approach, comparable company analysis, etc.$).$

$$ For example, several multiples can be used, Price$-$to Earnings $($P$/$E$),$ Price$-$to$-$Book value of equity $($P$/$B$)$ and Price$-$to$-$Sales $($P$/$S$)$ and Price$-$to$-$Free Cash Flow $($P$/$FCF$).$ At least two valuation multiples must be used.

$$ Target price calculation and sensitivity analysis.

$7.$ Risks

$$ Identify risks specific to Company $($e$.$g$.,$ regulatory, competitive, operational$).$

$$ Mitigation strategies.

$8.$ Conclusion

$$ Include a valuation and a recommendation of the selected stock in the analysis which are supported by both qualitative and quantitative analysis.

$$ Recap of the recommendation and key points.

$$ Final thoughts on the company investment potential.

$$ Summarizing the key risks

$$ Ownership and disclosure of material conflicts of interest