Hitachi Construction Machinery

HCM – Buy for the Commodity Upswing

Equity Bottom-Up
161 Views, 19 Jan 2022 20:39
EXECUTIVE SUMMARY
  • Hitachi Construction Machinery continues to trade under ¥3,000 following the revelation that it would not be bought out by Hitachi. 
  • There was little new at its conference call following the Itochu stake purchase announcement save some potential positives on the logistics front. 
  • Nevertheless, with the stock trading at five-year lows vs. TOPIX and Komatsu, and consensus looking light we are extremely bullish here.
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Mio Kato
Japan/Asia Long-Short
LightStream Research
JapanEquity Bottom-UpEquity Capital Markets

Over 15 years analysing Japanese and Asian stocks from a long/short perspective I focus on cyclically driven sectors su... 

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