GPGI Inc (GPGI)

GPGI: Cheap Valuation, High Recurring Revenue, And M&A Optionality

GPGI, post-Husky acquisition, is positioned as a cash-flow compounder with 70% recurring revenues and a proven M&A playbook under David Cote. Both CompoSecure and Husky segments benefit from structural growth drivers, high profitability, and dominant market positions in niche industries. I see GPGI as undervalued at 20x PE, with a mid-term price target of $45 and potential for multiple re-ratings given its management quality and growth profile.