Tokyo Electron Limited shares have recently experienced an upward movement with a return of higher volumes and volatility. This technical chart pattern suggests a continuation of the upward movement. Investors have an opportunity to buy the stock and target the ¥ 58000.
The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
Growth is a substantial asset for the company, as anticipated by dedicated analysts. Within the next three years, growth is estimated to reach 42% by 2023.
The group's high margin levels account for strong profits.
Thanks to a sound financial situation, the firm has significant leeway for investment.
The group usually releases upbeat results with huge surprise rates.
Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.
Over the last twelve months, the sales forecast has been frequently revised upwards.
Analysts remain confident with respect to the group's activity and, more often than not, have revised upwards their earnings per share estimates.
Analysts covering this company mostly recommend stock overweighting or purchase.
The stock is in a well-established, long-term rising trend above the technical support level at 27900 JPY
With an enterprise value anticipated at 5.15 times the sales for the current fiscal year, the company turns out to be overvalued.
The appreciation potential seems limited due to the average target prices set by the analysts covering the stock.
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