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WRTBF - Wartsila Looks Undervalued But The Sailing Is Anything But Smooth
Wartsila Corp
I wasn’t bullish on Wartsila (OTCPK:WRTBF) (OTCPK:WRTBY) (WRT1V.HE) back in early 2019 due to the company’s poor record of hitting margin targets and uncertainty in the outlook for marine orders. Those issues have remained very much in play, and the shares were down about a third even before the Covid-19 crisis hit the shares, as sell-side expectations headed steadily lower.
The situation today is a little different. While the outlook for the marine business is pretty poor in the short term, a lot has already been wrung out of the shares,