CNH Global N.V. (NYSE: CNH - News) is trading at $28.85, holding up nicely above the $28.50 mark. The stock has an attractive forward P/E of 6.67, which means that it is safe with ample growth potential as reflected in its PEG [price-to-earnings-growth] ratio of 0.43.
Both the above-mentioned P/E and PEG stats are better than the construction-equipment maker industry benchmark, which was rocked last week after Terex Corp. (NYSE: TEX - News) cut its earnings forecast for 2008. CNH's stock value had also plunged after the announcement.
In spite of the drop, CNH still has an upside potential of 0.56% for 2008 with the Average Target Price of $48.17. After a 26.50% surprise in the last earnings report, analysts have raised the stock's annual EPS forecast over the last two months by 20 cents to $3.55.
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