YASKY - Yaskawa's Results Suggest A More Uncertain Recovery Than The Valuation
- Yaskawa reported mixed fiscal second quarter results, with modestly better sales and meaningfully better earnings (due to Robotics), but weaker orders on an unsteady global recovery path.
- Partnering with Phoenix Contact to develop a new open-platform PLC makes some sense, but it will take a truly better mousetrap to challenge Siemens and Rockwell.
- I like Yaskawa's leverage to growing automation demand in China, but the shares seem to amply reflect the long-term potential.
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Yaskawa's Results Suggest A More Uncertain Recovery Than The Valuation