MEI - Methode Electronics: Poised To Find The Light In An Improving Automotive Sector
2024-05-31 05:22:21 ET
Summary
- Methode Electronics has a large and diversified customer base, but I believe its exposure to a weak automotive industry has led to a 70% decline in its stock price.
- The slowdown in manufacturing activity and global supply shocks have also contributed to the decline in revenue for Methode Electronics.
- Continued success in EV and data center programs represents a major revenue opportunity for Methode Electronics.
- I believe Methode Electronics stock is undervalued and rate it a buy, as the current price does not accurately reflect the company's long-term prospects in the currently weak automotive sector and broader manufacturing environment.
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Methode Electronics: Poised To Find The Light In An Improving Automotive Sector