Stock Rating Downgrade
The Value Trend Rating for Nova Ltd (NASDAQ: NVMI) weakened recently from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
On 11/10/23, Nova Ltd (NASDAQ: NVMI) stock enjoyed a large increase of 4.8%, closing at $111.75. The stock has risen 12.9% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
NVMI’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Nova has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Nova has a slightly negative Appreciation Score of 33 but a very high Power Rating of 86, resulting in the High Neutral Value Trend Rating.
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