2024-01-22 09:50:27 ET
Summary
- Preformed Line Products Company stock has fallen nearly 30% since being rated a buy, and the buy case is not as strong anymore.
- PLPC serves the network and telecommunications industry and has a massive market opportunity, but spending has been held off by customers.
- PLPC's most recent earnings report showed softer demand and a 21% reduction in backlog, but the company remains optimistic about growth prospects.
Investment Rundown
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Preformed Line Products: It Was Too Early To Buy, Now We Anticipate 2024 Results