He does think there's some benefit in parts/repair. These companies are better value and have more upside. Interest rates will be challenging for a bigger purchase like a car. People who buy cars also tend to have mortgages. That's why he favours parts companies over the auto makers.
Good time to buy shares.
Car demand growing.
Current share price presenting good buying opportunity.
Cyclical business so not a good long term hold.
Martinrea is a Canadian stock, trading under the symbol MRE-T on the Toronto Stock Exchange (MRE-CT). It is usually referred to as TSX:MRE or MRE-T
In the last year, 9 stock analysts published opinions about MRE-T. 8 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Martinrea.
Martinrea was recommended as a Top Pick by on . Read the latest stock experts ratings for Martinrea.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
9 stock analysts on Stockchase covered Martinrea In the last year. It is a trending stock that is worth watching.
On 2023-05-26, Martinrea (MRE-T) stock closed at a price of $11.83.
This Canadian based auto and propulsion light parts manufacturer is firing on all cylinders — pardon the pun. Recently reported earnings showed an all time record sales level - up 22% on the year. Management reports restrictions in semi-conductor parts are starting to ease and most of their plants are operation at full capacity. We like that cash reserves are growing as they retire debt. We recommend setting a stop loss at $11.00, looking to achieve $18.50 — upside potential of 37%. Yield 1.49%
(Analysts’ price target is $18.44)