2024-03-14 06:20:24 ET
Summary
- Fuchs reported solid fiscal 2023 results, and the stock finally broke out of its sideway range.
- Due to its wide economic moat, we can expect the company to continue growing at a solid pace, although guidance for 2024 is a little cautious.
- In my opinion, the stock is still undervalued and still a "Buy".
I published my last article about Fuchs SE ( FUPBY ) in October 2023 and back then, the stock was trading for €29.75. In my last article, I wrote:
In my opinion, Fuchs is still undervalued and a good buy. Of course, we are faced with the risk of the stock bouncing off the current resistance level (200-week moving average, declining trendline) and if this happens one might buy at the completely wrong time. But as long-term investors we should not care so much about short-term fluctuations. Nevertheless, one can wait before buying if Fuchs is either declining again (and creating another buying opportunity) or if the stock is breaking out of its current range.
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For further details see:
Fuchs Is Still A Buy