On 1/17/24, Eltek Ltd (NASDAQ: ELTK) stock enjoyed a major increase of 11.3%, closing at $16.71. Moreover, trading volume in this advance was unusually high at 167% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 12.9% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, ELTK is expected to continue to be a Value Builder.
Eltek has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Eltek has a very low Appreciation Score of 15 but a very high Power Rating of 99, resulting in the Neutral Value Trend Rating.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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