Ori Eyal of Emerging Value Capital Management updated his investment thesis on Hilan Tech (Israel: HLAN), shared a new thesis on Emet Computing (Israel: EMCO), and discussed investing in Israel at European Investing Summit 2018.
Emet Computing is an Israel-based IT services company. It sells, integrates, and supports computing infrastructure solutions and related products and services, including public and private cloud solutions and cybersecurity solutions.
The company should continue to experience rapid growth as businesses need to scale and expand their IT infrastructure, both on-site and in the cloud. Ori projects revenue doubling every five years and earnings more than doubling as profit margins increase toward peer levels due to scale efficiencies.
Assuming a constant EV/EBIT multiple of 10x, investors may earn 20+% IRR. Meanwhile, the shares offer a 4.5% dividend yield.
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About the instructor:
Ori Eyal, with 17 years of global value investing experience, is Founder and Portfolio Manager of Emerging Value Capital Management, a long-short global value fund. The firm’s in-depth research explores the merits of each investment in the context of a global market. Ori worked at Deutsche Bank Asset Management, Deephaven Capital Management and Aquamarine Fund. He holds an MBA from the University of Chicago Booth School of Business and an MSc. in Computer Science from the Open University of Israel. Born in Israel and raised in various places, Ori has a strong understanding of how to invest in both developed and emerging markets. In addition to investing, economics and emerging markets, his interests include logic games & puzzles, artificial intelligence, strategy/ game theory, science/ physics/ astronomy and the upcoming technological singularity.