Market Overview

Ira Sohn 2017 Conference: Everything You Need To Know

Ira Sohn 2017 Conference: Everything You Need To Know

Some of the largest and most successful investors in the world presented their best ideas this week at the Ira Sohn Conference in New York. In case you missed it, here’s some of the highlights from Benzinga Pro’s coverage of the event:

Rundown Of Pro's Sohn Coverage

  • Totem Point Capital revealed the firm is bullish on Xilinx, Inc. (NASDAQ: XLNX).
  • Atalan Capital said the firm is long Gigamon Inc (NYSE: GIMO) and Black Stone Minerals LP (NYSE: BSM), noting a $45 price target for Gigamon based on 4x fiscal 2018 sales estimates.
  • Blackhouse said it is positive on MPLX LP (NYSE: MPLX).
  • Corvex’s Keith Meister said he is positive on Zayo Group Holdings Inc (NYSE: ZAYO) and reveals Centurylink Inc (NYSE: CTL) is his top pick in the telecom space ahead of what he sees as an imminent consolidation wave.
  • Fine Capital’s Debra Fine recommended DHX Media Ltd (USA) (NASDAQ: DHXM).
  • Pershing Square’s Bill Ackman said the fund has “never sold a share” of Howard Hughes Corp (NYSE: HHC), and he sees opportunity ahead for the company.
  • Venture capitalist Chamath Palihapitiya said the bad in Tesla Inc (NASDAQ: TSLA) is selling pickups and semi trucks, its purchase of SolarCity and its capital-intensive business. However, the Model 3 is tracking closely with the iPhone when it first came out, and Palihapitiya believes Tesla could be worth $100s of billions of dollars in 20 years.
  • Blue Harbour’s Cliff Robbins reveals a $17–$19 price target for Investors Bancorp, Inc. (NASDAQ: ISBC).
  • Greenlight Capital’s David Einhorn said Core Laboratories N.V. (NYSE: CLB) is not cheap and needs more deepwater drilling to justify its valuation. He has a $62 price target for the stock.
  • DoubleLine’s Jefferey Gundlach said he does not see much upside in the stock market or equity ETFs like the SPDR S&P 500 ETF Trust (NYSE: SPY). He told investors to “consider investing in something else” and revealed he is short the S&P 500.
  • The winner of the Ira Sohn Idea Contest pitches eBay Inc (NASDAQ: EBAY) as a long and Paypal Holdings Inc (NASDAQ: PYPL) as a short.
  • Alitimeter’s Brad Gerster recommended United Continental Holdings Inc (NYSE: UAL) as a long idea.
  • Jericho Capital’s Josh Resnick said Frontier Communications Corp (NASDAQ: FTR) is “going bankrupt.” The firm is short the stock with a $0 price target.
  • Glenview’s Larry Robbins said he is already long his three top ideas: FMC Corp (NYSE: FMC), Quintiles IMS Holdings Inc (NYSE: Q) and DXC Technology Company (NYSE: DXC).

Market-Moving Actions

Traders watching this year’s Sohn Conference live or monitoring Benzinga Pro’s alerts closely were able to get in on some major market action. Here’s a look at some of this week’s biggest Sohn movers:

  • Gigamon: +14.7 percent.
  • DHX Media: +9.4 percent.
  • Black Stone Minerals: +7.0 percent.
  • CenturyLink: +6.1 percent.
  • Core Laboratories: -5.8 percent.

Related Link: One Year Later: A Look At The 2016 Ira Sohn Conference Picks


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