The SMID Point

Research evidence excerpt

The SMID Point

Roundup |

Friday, 10 July 2026 10 Jul 2026 07:00:00 ET

ACCompany | Industry Citi North America Research

+1-212-816-5062

Company

Box Inc (BOX.N) - AMA with CEO: Content Having its Moment, Box AI

Monetization Becoming Clear

We hosted Box CEO Aaron Levie for a conversation centered on Box AI, enterprise

AI adoption, and emerging agent use cases (replay available here). Enterprise agent

adoption is still early with customers still struggling to leverage agents in specific

workflows as fragmented data remains a key constraint that is driving incremental

demand to Box, yet, management believes that most enterprises will want a model

neutral architecture that will drive increased importance to the applied AI layers.

Box sees multiple levers to sustain growth including Enterprise Advanced (EA)

adoption, AI/API platform usage, and seat growth (not hearing about headwinds)

while continuing to invest in headcount to support growth despite internal AI

adoption. We come away from the conversation with increased clarity on the Box

AI monetization model and confidence in NT demand with increased priority from

enterprise modernization initiatives to enable agentic experiences as we

reiterate...

Buy | Target price US$37.00

Steven Enders, CFA

GATX (GATX.N) - GATX 2Q Preview/Takes from CFO/IR Mtg.: Buy the dip on rate

hike resilience; Incremental lease rate/remarketing strength

We caught up with GATX’s CFO and Head of IR as well as investors on market

trends. We see the supply/demand picture incrementally improved as stronger-

than-expected rail vols. should support lease rates and the stepped-down

manufacturing read from TRN/GBX should provide incremental upside on

remarketing income. We expect relative resilience to rate hikes (although