At this year's Sohn Investment Conference, David Einhorn, the president of Greenlight Capital, pitched a European mid-cap that is perfectly positioned to capitalize on the global electric vehicle boom and green energy transition.
The investor started by presenting a company he codenamed "Chocolate." A European auto parts supplier, Einhorn, said the company had struggled in 2022 due to high input costs and the global supply chain disruption. However, the growth of its main input costs, crude oil, steel, aluminum, and copper, has moderated in 2023, putting the business in an excellent position to return to profit growth over the next two years. Even though revenues are expected to remain stable, lower costs will allow the company to expand its margins and...
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