Validea John Neff Strategy Daily Upgrade Report - 11/8/2025

The following are today's upgrades for Validea's Low PE Investor model based on the published strategy of John Neff. This strategy looks for firms with persistent earnings growth that trade at a discount relative to their earnings growth and dividend yield.

RICOH CO LTD (ADR) (RICOY) is a mid-cap value stock in the Computer Hardware industry. The rating according to our strategy based on John Neff changed from 62% to 81% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.

Company Description: Ricoh Co Ltd is a Japan-based company mainly engaged in the development, production, sales, and service activities for digital services, digital products, graphic communications, industrial solutions, and others. The Company has five business segments. Digital Services segment sells imaging equipment such as office multifunction devices and printers and provides information technology (IT)-related solutions. Digital Products segment is involved in the development and production of imaging equipment such as office multifunction devices and printers, and edge devices that support digital communication. Graphic Communications segment includes the commercial printing business and the industrial printing business. Industrial Solutions segment consists of the thermal business and the industrial products business. Industrial Products segment provides precision equipment parts. The Other segment is engaged in the digital cameras, 360-degree cameras, environment and healthcare business.

The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria. P/E RATIO:PASSEPS GROWTH:PASSFUTURE EPS GROWTH:FAILSALES GROWTH:PASSTOTAL RETURN/PE:PASSFREE CASH FLOW:PASSEPS PERSISTENCE:PASS

Detailed Analysis of RICOH CO LTD (ADR)

RICOY Guru Analysis

RICOY Fundamental Analysis

GLOBAL PARTNERS LP (GLP) is a small-cap growth stock in the Retail (Grocery) industry. The rating according to our strategy based on John Neff changed from 58% to 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.

Company Description: Global Partners LP is an integrated owner, supplier, and operator of liquid energy terminals, fueling locations, and guest-focused retail experiences. The Company operates or maintains storage at 54 liquid energy terminals with connectivity to rail, pipeline, and marine assets spanning from Maine to Florida and into the United States Gulf States. It distributes gasoline, distillates, residual oil, and renewable fuels. The Companys segments include Wholesale, Gasoline Distribution and Station Operations (GDSO) and Commercial. The Wholesale segment is engaged in the logistics of selling, gathering, blending, storing and transporting refined petroleum products, gasoline blend stocks, renewable fuels, crude oil and propane. The GDSO segment includes sales of branded and unbranded gasoline to gasoline station operators and sub-jobbers. The Commercial segment includes sales and deliveries of unbranded gasoline, home heating oil, diesel, kerosene, residual oil and bunker fuel.

The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria. P/E RATIO:PASSEPS GROWTH:PASSFUTURE EPS GROWTH:FAILSALES GROWTH:PASSTOTAL RETURN/PE:PASSFREE CASH FLOW:FAILEPS PERSISTENCE:FAIL

Detailed Analysis of GLOBAL PARTNERS LP

GLP Guru Analysis

GLP Fundamental Analysis

John Neff Portfolio

About John Neff: While known as the manager with whom many top managers entrusted their own money, Neff was far from the smooth-talking, high-profile Wall Streeter you might expect. He was mild-mannered and low-key, and the same might be said of the Windsor Fund that he managed for more than three decades. In fact, Neff himself described the fund as "relatively prosaic, dull, [and] conservative." There was nothing dull about his results, however. From 1964 to 1995, Neff guided Windsor to a 13.7 percent average annual return, easily outpacing the S&P 500's 10.6 percent return during that time. That 3.1 percentage point difference is huge over time -- a $10,000 investment in Windsor (with dividends reinvested) at the start of Neff's tenure would have ended up as more than $564,000 by the time he retired, more than twice what the same investment in the S&P would have yielded (about $233,000). Considering the length of his tenure, that track record may be the best ever for a manager of such a large fund.

About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.