Monday, April 15, 2024
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Initiating Research Coverage. We are initiating research coverage of NN, Inc. with an Outperform rating and a $6 price target. Under a new management team, NN is implementing a strategic transformation designed to secure new growth, increase profits, and generate free cash flow.
Attractive End Markets. NN competes in growing and attractive end markets across the globe. NN won a record $62.6 million of new business wins in 2023. With a global competitive operational footprint, NN can leverage its collective strengths and procurement scale, in our view. End market diversity helps insulate the Company from a downturn in any one end market.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.