The 2024 Sohn New York Conference brought together some of the brightest minds in the investment world, including names such as David Einhorn, Karen Karniol-Tambour, and Seth Fischer. Michelle Ross of StemPoint Capital highlighted Crinetics Pharmaceuticals as a promising investment opportunity, focusing on the company’s development of treatments for endocrine diseases. She sees huge potential in the U.S. market alone for these treatments and anticipates positive clinical data in the coming months. Ross has set a target price for Crinetics at $88 a share, with a long-term target of $339 a share.
Nikhil and Krish Daftary of NK Capital pitched Alimentation Couche-Tard as a strong investment opportunity, describing the company as a success story in public markets priced like a value stock. They expect the convenience-store operator to become one of the largest retail chains in the world. David Einhorn presented Solvay, a Belgian chemicals company, as a value play due to its recent restructuring and strong position in the soda ash and peroxide markets. Einhorn believes Solvay is well-positioned to benefit from rising soda ash prices.
Scott Goodwin of Diameter Capital shared his bullish thesis on New York Community Bank, focusing on the distressed bank’s remaining assets after selling a significant portion of its pool to JV partners and Blackstone. Goodwin sees potential in the bank’s New York CRI loans and believes it is a long-duration play over the next five years. Jesse Cohn of Elliott Investment Management discussed Etsy as an appealing investment opportunity, citing the company’s unique marketplace for handmade goods and strong customer loyalty scores. Cohn believes Etsy has the potential for growth despite currently being out of favor.
Overall, the 2024 Sohn New York Conference featured a diverse range of investment ideas from both established names and rising stars in the investment world. The conference showcased opportunities in various sectors, including pharmaceuticals, retail, chemicals, and banking. Investors were presented with compelling investment theses and detailed analyses of companies with potential for significant growth and value appreciation. As attendees absorbed and evaluated these ideas, they were left with new perspectives and potential opportunities to explore in their investment portfolios. The conference once again proved its value as a platform for sharing innovative investment ideas and insights from some of the most talented individuals in the industry.
