- Premier watchmaking company catering to mid-market customers with 65% upside to the stock price.
- Projected 30% net cash as of fiscal year-ended January 2021.
- Recovery trade, easy comparisons, and scope for greater upside as stock took a tumble because of the US-China trade war prior to Covid-19.
- P/E of 10.8x on our normalized FY01/2022 estimates.
- Market trends suggest a strong millennial market, with rising discretionary incomes and pent-up demand post Covid-19.
For further details see:
Movado Group: Premier Watchmaker Addressing Mid-Market Consumers, With 11.0 P/E, 30% Net Cash And 65% Upside