NC - NACCO Industries: Back To Profit In 2024 Shares Look Cheap (Rating Upgraded)
2024-03-12 11:33:51 ET
Summary
- I upgrade NACCO Industries from Hold to Buy. Due to temporary issues beyond NACCO's control, the share price has fallen significantly, but the outlook is bright.
- Temporary boiler failure at Red Hills Power Plant caused a write-down on earnings, leading to a negative net income in 2023.
- The high probability of a stock price recovery is supported by expectations of positive net income in 2024 and long-term growth opportunities.
A Buy Recommendation for NACCO Industries
This analysis assigns a “Buy” rating to NACCO Industries, Inc. ( NC ) shares, representing an upgrade from the previous Hold recommendation, as this price level after the impact of temporary issues looks like an opportunity given the good prospects for a recovery in stock....
NACCO Industries: Back To Profit In 2024, Shares Look Cheap (Rating Upgraded)