Elbit: the backlog is excellent and the delivery schedule is the risk

Nothing is wrong with demand. Supply-chain conversion has slipped twice and the current price assumes it does not slip again.

Kwame Boateng@kwame_boateng

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Discussion · 4

Sam WhitfieldJUL 7

Respectfully, I think this overstates it. The contract structure matters more than the headline rate. Interested in what the kill switch looks like in practice.

Kwame BoatengAuthorJUL 5

Fair challenge. Invalidation is a close below the lock price on volume, and I should have written that into the card rather than leaving it implicit. (943)

Pauline VidalJUL 6

Agree with the direction, less with the magnitude. The installed base argument is stronger than the cycle argument here. Where does this break if rates back up another 50bp?

Omri ShakedJUL 5

I came in sceptical. The cohort split is the detail that everyone leaves out. How much of this do you think is already in the buy side's numbers?

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