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HURC - Hurco Seeing A Quicker Pace Of Recovery And Still Undervalued
Hurco Companies Inc.
Hurco reported strong revenue growth on recovering industrial demand, though gross margins were hit by competitors that choose to cut prices to move excess inventory.
Orders continue to show a recovery underway across all markets, but Hurco management and other machine tool companies have remained relatively cautious on the near-term outlook.
Hurco shares continue to look undervalued below $40, and recovering manufacturing end-markets should drive much improved results in 2021 and 2022.