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Turnaround Letter
Out-of-Favor Stocks with Real Value

June 21, 2024

Earnings season is over, so there were no companies that reported earnings this past week. However, we do have at one last company on a slightly different fiscal schedule reporting next week – Walgreens Boots Alliance (WBA), who will announce results on the 27th.

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Earnings season is over, so there were no companies that reported earnings this past week. However, we do have at one last company on a slightly different fiscal schedule reporting next week – Walgreens Boots Alliance (WBA), who will announce results on the 27th.

Friday, June 21, 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 9 minutes long and covers:

  • Initial note
    • Introduction and setup for next CTL issue.
  • Comments on recommended companies
    • Kopin (KOPN) announced it has received a contract from the U.S. Army to develop novel see-through Augmented Reality (AR) display optics for dismounted soldier vision system applications.
    • Six Flags Entertainment (SIX) announced the senior management team that will lead the combined company following the completion of their previously announced merger of equals with Cedar Fair (FUN). In short, Cedar Fair management will be the new C-suite for the combined entity, while SIX CFO Gary Mick will serve as Chief Integration Officer and oversee the transition.
    • Kohl’s (KSS) is introducing “The Return Drop” across more than 1,100 U.S. locations through a partnership with Narvar and Inmar Post-Purchase Solutions, the retailer is accepting returns from brands like Carhartt, Hanes and Levi’s at its stores in an effort to boost foot traffic, per the press release.
    • Barnes (B) announced it will release second-quarter 2024 financial results on Friday, July 26, 2024, before the market opens.
    • U.S. Steel (X) provided second quarter 2024 adjusted net earnings per diluted share guidance of $0.76 to $0.80. Second-quarter 2024 adjusted EBITDA is expected to be approximately $425 million.
    • GE Aerospace (GE) declared a $0.28 per share dividend on the outstanding common stock of the company. The dividend is payable July 25, 2024, to shareholders of record at the close of business on July 11, 2024.
    • Macy’s (M) is kicking off summer with its first marketing campaign under new CMO Sharon Otterman. The ad (which can be watched here) features a new version of Bill Withers’ “Lovely Day” reflecting the campaign’s theme of finding joy in every moment. The tune is sung by Grammy-nominated R&B artist Amber Mark and produced by Grammy award-winning producer Ryan Tedder.
    • Tyson Foods (TSN) is selling a broiler processing plant in Dexter, Missouri – one of four it planned to close in 2024 – to Cal-Maine Foods (CALM).
    • Agnico Eagle (AEM) says an expansion of its Detour Lake Mine will push production above 1M ounces per year.

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.
Price at
Current Price *Current
Rating and Price Target
Small capGannett CompanyGCIAug 20179.22 $ 4.43 -Buy (9)
Small capDuluth HoldingsDLTHFeb 20208.68 $ 3.89 -Buy (20)
Small capDril-QuipDRQMay 202128.28 $ 17.99 -Buy (44)
Small capKopin CorpKOPNAug 20232.03 $ 0.70 -Buy (5)
Small capAmmo, Inc.POWWOct 20231.99 $ 1.88 -Buy (3.50)
Mid capMattelMATMay 201528.43 $ 17.38 -Buy (38)
Mid capAdient plcADNTOct 201839.77 $ 25.27 -Buy (55)
Mid capXerox HoldingsXRXDec 202021.91 $ 13.457.4%Buy (33)
Mid capViatrisVTRSFeb 202117.43 $ 10.264.7%Buy (26)
Mid capTreeHouse FoodsTHSOct 202139.43 $ 36.60 -Buy (60)
Mid capThe Western Union Co.WUDec 202116.40 $ 12.277.7%Buy (25)
Mid capBrookfield ReinsuranceBNREJan 202261.32 $ 40.120.8%Buy (93)
Mid capPolarisPIIFeb 2022105.78 $ 78.313.4%Buy (160)
Mid capGoodyear Tire & RubberGTMar 202216.01 $ 11.18 -Buy (24.50)
Mid capJanus Henderson GroupJHGJun 202227.17 $ 33.764.6%Buy (67)
Mid capSix Flags EntertainmentSIXDec 202222.60 $ 31.12 -Buy (35)
Mid capKohl’s CorporationKSSMar 202332.43 $ 22.548.9%Buy (50)
Mid capFrontier Group HoldingsULCCApr 20239.49 $ 5.15 -Buy (15)
Mid capAdvance Auto PartsAAPSep 202364.08 $ 65.661.5%Buy (98)
Mid capMohawk IndustriesMHKJan 2024103.11 $ 111.38 -Buy (165)
Mid capVF CorporationVFCMar 202416.24 $ 14.142.5%Buy (25)
Mid capBarnes GroupBApr 202436.55 $ 39.261.6%Buy (55)
Mid capFirst Quantum MineralsFMApr 202415.93 $ 17.141.6%Buy (40)
Mid capUnited States SteelXJun 202437.12 $ 36.670.5%Buy (55)
Large capGeneral ElectricGEJul 2007304.96 $ 163.440.2%Buy (160)
Large capNokia CorporationNOKMar 20158.02 $ 3.693.4%Buy (12)
Large capMacy’sMJul 201633.61 $ 18.323.4%Buy (25)
Large capNewell BrandsNWLJun 201824.78 $ 6.593.4%Buy (39)
Large capVodafone Group plcVODDec 201821.24 9.0111.3%Buy (32)
Large capBerkshire HathawayBRK.BApr 2020183.18 $ 408.88 -HOLD
Large capWells Fargo & CompanyWFCJun 202027.22 $ 58.172.4%HOLD (64)
Large capWestern Digital CorporationWDCOct 202038.47 $ 76.16 -HOLD (78)
Large capElanco Animal HealthELANApr 202127.85 $ 18.06 -Buy (44)
Large capWalgreens Boots AllianceWBAAug 202146.53 $ 15.876.3%Buy (70)
Large capVolkswagen AGVWAGYAug 202219.76 $ 12.047.6%Buy (70)
Large capWarner Bros DiscoveryWBDSep 202213.13 $ 7.09 -Buy (20)
Large capCapital One FinancialCOFNov 202296.25 $ 136.071.8%HOLD (150)
Large capBayer AGBAYRYFeb 202315.41 $ 7.007.7%Buy (24)
Large capTyson FoodsTSNJun 202352.01 $ 55.953.5%Buy (78)
Large capAgnico Eagle MinesAEMNov 202349.80 $ 64.782.3%Buy (75)
Large capFidelity Natl Info ServicesFISDec 202355.50 $ 76.332.7%Buy (85)
Large capBaxter InternationalBAXFeb 202438.79 $ 34.083.3%Buy (60)

Copyright © 2024. All rights reserved. Copying or electronic transmission of this information without permission is a violation of copyright law. For the protection of our subscribers, copyright violations will result in immediate termination of all subscriptions without refund. Disclosures: Cabot Wealth Network exists to serve you, our readers. We derive 100% of our revenue, or close to it, from selling subscriptions to our publications. Neither Cabot Wealth Network nor our employees are compensated in any way by the companies whose stocks we recommend or providers of associated financial services. Employees of Cabot Wealth Network may own some of the stocks recommended by our advisory services. Disclaimer: Sources of information are believed to be reliable but they are not guaranteed to be complete or error-free. Recommendations, opinions or suggestions are given with the understanding that subscribers acting on information assume all risks involved. Buy/Sell Recommendations: are made in regular issues, updates, or alerts by email and on the private subscriber website. Subscribers agree to adhere to all terms and conditions which can be found on and are subject to change. Violations will result in termination of all subscriptions without refund in addition to any civil and criminal penalties available under the law.

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