Stock Rating Downgrade
The Value Trend Rating for Eltek Ltd (NASDAQ: ELTK) weakened in the last week from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Eltek Ltd (NASDAQ: ELTK) stock closed at $11.35 on 11/10/23 after a modest gain of 0.7%. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 20.5% 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 (High Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Eltek has a poor Appreciation Score of 18 but a very high Power Rating of 99, resulting in the High Neutral Value Trend Rating.
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