Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Eltek Ltd (NASDAQ: ELTK) improved of late. ELTK’s current Value Trend Rating is B and the prior Rating was C. Details supporting this higher rating are included in our next report.
Recent Price Action
On 3/18/24, Eltek Ltd (NASDAQ: ELTK) stock declined slightly by -0.9%, closing at $10.48. Moreover, trading volume in this decline was above average at 120% of normal. The stock has declined -24.6% during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
ELTK is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Eltek has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Eltek has a neutral Appreciation Score of 41 but a very high Power Rating of 97, with the Positive Value Trend Rating the result.
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