2024-02-02 06:30:49 ET
Summary
- Nibe's stock has underperformed and is now considered attractive at current valuations.
- The company's long-term growth trend is solid, and it is expected to rebound once the market turns around.
- Nibe's profitability surpasses its peers in the construction sector, making it undervalued and a potential investment opportunity.
Dear readers/followers,
If you follow my articles on Nibe, you'll know that I went with a neutral "HOLD" rating initially in early 2023, followed to a switch to a "BUY" in August, and a reiteration of that buy in November of last year. Since then, the stock has further underperformed and is now down to where I believe it to be incredibly attractive to the previous valuations, and with an upside even without too much overall premiumization.
Nibe has a very solid long-term growth trend, even after normalizing back down below 63 SEK/share. The company once traded close to 150 back during ZIRP - and while I did not own shares at the time, I would have done the same as with similar overvalued swedish stocks and sold them at the time....
Read the full article on Seeking Alpha
For further details see:
NIBE Industrier: Saying 'BUY' Once More, Despite Some Softness