2024-07-05 12:43:35 ET
Summary
- Magic Software (MGIC) is expected to rise significantly due to its high dividend yield and undervaluation, but it is unlikely to outperform the market over the long term.
- Magic's low-code development and Industry 4.0 solutions position it well for digital transformation trends despite risks from industry competition and dependency on key clients.
- Magic's resilient FCF, conservative growth forecasts, and current undervaluation present a buying opportunity, projecting a stock price of $16.11 by December 2025, implying a 35% CAGR.
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Magic Software: Near-Term Alpha, Long-Term Underperformance