Nitto Denko Corporation : A support level that should be taken advantage of
| Entry price | Target | Stop-loss | Potential |
|---|
|
JP¥8,360 |
JP¥9,750 |
JP¥7,430 |
+16.63% |
|---|
The recent downturn has taken Nitto Denko Corporation shares close to a medium term support level around 8150 JPY. The timing for a long trade in the stock appears good.
Summary● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
● In a short-term perspective, the company has interesting fundamentals.
● Thanks to a sound financial situation, the firm has significant leeway for investment.
● The company has attractive valuation levels with a low EV/sales ratio compared with its peers.
● Over the past year, analysts have regularly revised upwards their sales forecast for the company.
● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.
● Analysts remain confident with respect to the group's activity and, more often than not, have revised upwards their earnings per share estimates.
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● According to forecast, a sluggish sales growth is expected for the next fiscal years.
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NITTO DENKO CORPORATION 
