Technology
Whilst Nikon shares have recovered 90% from early ’21 lows when Asymmetric Advisors first recommended the stock and earnings will slow into next FY, the company seems on course to make a major transition from a contrarian / value to growth name. This is because not only has it restructured and reoriented its camera business but due to the emergence of one new earnings pillar (lenses for EUV inspection) and the potential for a second (the purchase of metal 3D printing machine maker SLM). Meanwhile, PER at 11x, 0.78x PBR and potential for further buybacks provide valuation backing.
Edition: 149
- 25 November, 2022