Undercovered Dozen: ServiceNow, Kraft Heinz, Infleqtion, And More

NOW is the only name here with genuine multiple-expansion upside, but the market will demand proof that workflow/platform expansion is translating into bookings and FCF, not just TAM rhetoric. The second-order risk is that enterprise software consolidation often lengthens sales cycles right when investors are paying for acceleration; that makes the next 1-2 quarters more of a billings/guide story than a product story.

KHC reads more like a yield instrument than a turnaround. The dividend can support the stock in a risk-off tape, but upside is capped unless volume stabilizes and private-label share stops creeping higher; otherwise margin leverage works against them on any input-cost reacceleration. The supposed Berkshire catalyst is weak unless it shows up in actual buybacks or ownership changes—headline association alone is not a catalyst.

BRK.B is the cleanest defensive compounder in the set, but it is also the least exciting near-term trade because the upside is mostly steady compounding. Contrarian view: the market may be overpaying for KHC’s defensiveness while underestimating NOW’s cyclical sensitivity to IT spend; if software multiples compress on any AI monetization disappointment, NOW could lag despite better fundamentals. The relative-value opportunity is in quality versus yield, not in chasing the article’s strongest language.