Dear Reader, Last week’s market prep was a huge win for me. Let’s keep up the momentum. Feel free to comment below or message me if you have any strong feelings about the names below:Tuesday:Mowi (MHGVY in US): Norwegian salmon company trading at 12.5x 2027 street consensus. Seems basically fairly valued.Klarna: This BNPL company has some complicated accounting that’s above my paygrade, but I know some analysts who are really bullish.Auna: Hospitals/clinics/insurance in Mexico, Peru, and Colombia. Shares have been a bust since its U.S. listing a couple years back. Trading at 5x 2027 earnings consensus but has a lot of debt. I think it’s probably a value trap but if they actually hit street forecasts this could go up a lot, long-term.La-Z-Boy: The furniture small caps are a special interest of mine. This is a surprisingly high-quality company in my opinion. La-Z-Boy is in a kind of unique market position with offerings for middle-income customers. They are good capital allocators with a strong balance sheet. That said, at ~13x forward earnings I’m not too interested. This is a name that I would like to buy at the right price, maybe if they shank the quarter.Coloplast (CLPBY in US): Medical device company whose shares have been under pressure from (Chinese) competition. At ~17x forward earnings consensus shares could re-rate higher on a guidance beat.Wednesday:Carlsberg (CABGY in US): Danish brewer at ~13x 2027 earnings consensus. I like their brands. Generally savvy operators. But not cheap enough for me, with a significant debt load. Opera: This gaming-focused browser has been crushing earnings in recent memory, but they’re reliant on a deal with Google for a lot of their revenue. Some concerns about them stuffing users with heavy ad loads. AI ads to terminal value concerns. At ~12x 2027 earnings consensus I lean towards staying out of this one, but I could probably be persuaded to take a small punt.Target: Shares have been rebounding strong over the last year or so on the back of advertising revenue growth. At ~18x forward earnings consensus I dunno’, it’s too hard for me. Northern Star (NESRF in US): Australian gold major Northern Star is trading at over 14x forward earnings consensus. No thanks, but still worth watching to keep a pulse on the industry.Thursday:Walmart: Trading at ~37x forward earnings consensus. The story is that Walmart and Costco are taking market share from grocery chains, and that’s true to a large extent, but I’m skeptical that it justifies the stock valuation. If anything, I’ll probably be looking to buy puts on a strong market reaction.Alibaba: I’m long headed into earnings. Between their cloud growth/guidance and their equity stakes in CXMT and LLM companies I think this is one of the better earnings setups this year. I think the stock price is lagging behind the much-improved capital allocation narrative. Flowers Foods: Wow, what a piece of shit. Seriously though, this company is a total piece of shit. They were doing alright and then they nuked their balance sheet with a terrible acquisition last year. This company is such a huge turd that I’m considering getting long at ~9x forward earnings consensus because they might beat those expectations. But it’s probably safer to buy a puke. Dino (DNOPY in US): This is kind of like the Dollar General of Poland. The stock price has been burning off the too-high expectations of bulls for a few years now. It’s not clear how much growth runway they really have. Still seems kind of expensive at ~16x 2027 earnings consensus.Wildcards:Taylor Devices: Shock absorption products for construction / civil engineering and military applications. Backlog has been struggling. Strong balance sheet but no buybacks. Very interesting company but it’s probably a pass for me at ~14x forward earnings consensus. Would be very interested in buying a puke.Ollie’s: Discount store. My analyst says they are good operators. Strong results lately. Strong balance sheet. Minimal buybacks. At ~16x forward earnings consensus I think this is probably good for a small bet into earnings, namely because it seems they have tailwinds that mute the downside, making the risk asymmetric.Happy hunting,Scalavelli