Tuesday, October 29, 2019

Fanuc Logs Another Weak Quarter, But The Worst May Be Over

As is the case at Yaskawa (OTCPK:YASKY), it looks like investors are pretty willing to overlook another weak quarter from Fanuc (OTCPK:FANUY), and another reduction in guidance, on the idea that the bottom has been reached and business will improve from here. While I agree with that basic philosophy, I’m still concerned about the extent to which a recovery has already been priced into the shares, as the valuation would already seem to anticipate mid-teens FCF growth on a long-term basis with a single-digit discount rate.

Read more here:
Fanuc Logs Another Weak Quarter, But The Worst May Be Over

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