Stock Rating Upgrade
The Value Trend Rating for Fonar Corp (NASDAQ: FONR) improved in recent days from C to B reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Fonar Corp (NASDAQ: FONR) stock declined modestly by -1.3% on 3/18/24. The stock closed at $21.61. However, below average trading volume at 70% of normal accompanied the decline. The stock has been exceptionally strong relative to the market over the last nine months but has declined -4.6% during the last week.
Current PriceTarget Research Rating
FONR is expected to continue to be Value Creation neutral reflecting capital returns that are forecasted to be in line with the cost of capital.
Fonar has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Fonar has a neutral Appreciation Score of 44 but a good Power Rating of 84, triggering the Positive Value Trend Rating.
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