Stock of the week: “Olympus KK”
3rd of May 2023
Olympus Corp. engages in the manufacture and sale of precision machineries and instruments. It operates through the following segments: Medical, Scientific Solutions, Imaging and other precision technology.
Known especially for its cameras, which made the group famous, Olympus is now representing the highest level in the world of medical technology.
In February, Olympus lowered its annual net profit forecast. As a result, its stock price decreased by 3.27%, which led to a 2.26% decline in precision instrument maker stocks.
On April 24th, Japan's Olympus Group made a significant move to expand its production capabilities by signing a plan to establish a research and production base in China's Suzhou Industrial Park. This is the first time the company has set up such a base in China, and it has the potential to significantly enhance Olympus' production output.
Financial social media sentiment is “positive” in both absolute and relative terms, on its own and when compared to the social media sentiment of the sector and stock index.
Analyst consensus is to "buy" the stock - out of the 13 bank analysts covering the company, 10 recommend buying the stock and 3 suggest holding it. The median upside potential of the stock price these analysts expect over the next 6-12 months is currently 30.6% (reference close of business 2/05/2023).
Attention buzz is currently “average”.
Sources:
https://www.letemps.ch/economie/olympus-renonce-activite-historique-dappareils-photo
http://french.china.org.cn/business/txt/2023-04/25/content_85253436.htm
https://finance.yahoo.com/news/japans-nikkei-hits-over-2-023714109.html
https://umushroom.com/en/equity/7733-olympus
