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Turnaround Letter
Out-of-Favor Stocks with Real Value

April 5, 2024

The next earnings season starts very soon, with Mattel (MAT) set to report on Tuesday, April 23.

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The next earnings season starts very soon, with Mattel (MAT) set to report on Tuesday, April 23.

Friday, April 5, 2024 Subscribers-Only Podcast:

Covering recent news and analysis for our portfolio companies and other topics relevant to value/contrarian investors.

Today’s podcast is about 20 minutes and covers:

  • Initial note
    • Introduction – who exactly is this Matt Warder person and what should we expect going forward?
  • Comments on recommended companies
    • Kopin (KOPN) announced a partnership with BlueHalo to develop advanced simulated binoculars and monoscope products for use in their Advanced Stinger Training system.
    • Mattel (MAT) announced they will release earnings on Tuesday, April 23.
    • Xerox (XRX) continues to transform its operating model, shifting operations in Peru and Ecuador to their longstanding partner in Central and South America, Productive Business Solutions (PBS).
    • Viatris (VTRS) won the right to challenge J&J’s schizophrenia drug patents in a U.S. appellate court on Monday, but its deal with Theramex to offload hormone replacement products Duphaston and Femoston is encountering some resistance in the U.K.
    • Polaris (PII) rolled out its new lineup of Indian Scout Motorcycles on Tuesday.
    • Barnes Group (B) announced it completed the previously announced sale of its Associated Spring and Hanggi businesses to One Equity Partners.
    • General Electric (GE) finally completed its three-way split into GE Aerospace (GE), GE Vernova (GEV) and GE Healthcare (GEHC).
    • Elanco Animal Health (ELAN) appointed two new members to its board after reaching an agreement with activist investor Ancora.

Please know that while I don’t yet personally own shares of all Cabot Turnaround Letter recommended stocks – including the stocks mentioned in this note – that will materially change over time.

Please feel free to share your ideas and suggestions for the podcast and the letter with an email to either me at or to our friendly customer support team at Due to the time and space limits we may not be able to cover every topic, but we will work to cover as much as possible or respond by email.


Market CapRecommendationSymbolRec. IssuePrice at Rec.Current Price *Current YieldRating and Price Target
Small capGannett CompanyGCIAug 20179.22 2.34 -Buy (9)
Small capDuluth HoldingsDLTHFeb 20208.68 4.87 -Buy (20)
Small capDril-QuipDRQMay 202128.28 23.75 -Buy (44)
Small capL.B. FosterFSTRJul 202313.60 26.65 -SELL
Small capKopin CorpKOPNAug 20232.03 1.60 -Buy (5)
Small capAmmo, Inc.POWWOct 20231.99 2.69 -Buy (3.50)
Mid capMattelMATMay 201528.43 19.36 -Buy (38)
Mid capAdient plcADNTOct 201839.77 31.11 -Buy (55)
Mid capXerox HoldingsXRXDec 202021.91 17.275.8%Buy (33)
Mid capViatrisVTRSFeb 202117.43 11.674.1%Buy (26)
Mid capTreeHouse FoodsTHSOct 202139.43 37.00 -Buy (60)
Mid capThe Western Union Co.WUDec 202116.40 13.487.0%Buy (25)
Mid capBrookfield ReBNREJan 202261.32 40.050.8%Buy (93)
Mid capPolarisPIIFeb 2022105.78 96.022.8%Buy (160)
Mid capGoodyear Tire & RubberGTMar 202216.01 13.01 -Buy (24.50)
Mid capJanus Henderson GroupJHGJun 202227.17 32.044.8%Buy (67)
Mid capSix Flags EntertainmentSIXDec 202222.60 25.21 -Buy (35)
Mid capKohl’s CorporationKSSMar 202332.43 25.507.8%Buy (50)
Mid capFrontier Group HoldingsULCCApr 20239.49 7.15 -Buy (15)
Mid capAdvance Auto PartsAAPSep 202364.08 79.551.3%Buy (98)
Mid capMohawk IndustriesMHKJan 2024103.11 122.13 -Buy (165)
Mid capVF CorporationVFCMar 202416.24 13.762.6%Buy (25)
Mid capBarnes GroupBApr 202436.55 35.201.8%Buy (55)
Large capGeneral ElectricGEJul 2007304.96 152.470.2%Buy (160)
Large capNokia CorporationNOKMar 20158.02 3.503.8%Buy (12)
Large capMacy’sMJul 201633.61 18.333.6%Buy (25)
Large capNewell BrandsNWLJun 201824.78 7.303.6%Buy (39)
Large capVodafone Group plcVODDec 201821.24 8.6111.1%Buy (32)
Large capBerkshire HathawayBRK.BApr 2020183.18 416.64 -HOLD
Large capWells Fargo & CompanyWFCJun 202027.22 56.632.4%Buy (64)
Large capWestern Digital CorporationWDCOct 202038.47 71.11 -Buy (78)
Large capElanco Animal HealthELANApr 202127.85 15.56 -Buy (44)
Large capWalgreens Boots AllianceWBAAug 202146.53 18.815.3%Buy (70)
Large capVolkswagen AGVWAGYAug 202219.76 16.076.1%Buy (70)
Large capWarner Bros DiscoveryWBDSep 202213.13 8.21 -Buy (20)
Large capCapital One FinancialCOFNov 202296.25 142.041.7%Buy (150)
Large capBayer AGBAYRYFeb 202315.41 7.410.4%Buy (24)
Large capTyson FoodsTSNJun 202352.01 58.903.3%Buy (78)
Large capAgnico Eagle MinesAEMNov 202349.80 61.152.6%Buy (75)
Large capFidelity Natl Info ServicesFISDec 202355.50 72.042.7%Buy (85)
Large capBaxter InternationalBAXFeb 202438.79 42.542.7%Buy (60)

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Matthew Warder is Cabot Wealth Network’s Chief Analyst of Cabot Turnaround Letter