In today’s briefing:
- Fanuc (6954) – Forget Yaskawa…a Slowdown Is Coming
Fanuc (6954) – Forget Yaskawa…a Slowdown Is Coming
- We are bearish on Fanuc. Yaskawa’s robotics orders were strong but Fanuc is more correlated with machine tool orders
- Machine Tool orders have already turned south and Fanuc is losing momentum in its order growth
- If we are right on the cycle, we expect Fanuc to trade down to 2.3x book value, 20% downside risk from here
Before it’s here, it’s on Smartkarma
