In today’s briefing:
- Horiba (6856 JP): New Growth Opportunity in Hydrogen Energy
Horiba (6856 JP): New Growth Opportunity in Hydrogen Energy
- Measurement and analysis to qualify hydrogen fuel cells, vehicle engines and fueling stations, electrolysis and other hydrogen production processes should be a new growth driver for Horiba.
- Semiconductor equipment demand losing momentum, but should hold up in 2022. Weak demand for auto emission measurement systems is a key risk.
- Reasonably valued at 15x EPS guidance for FY Dec-21 and 1.45x book value, with a dividend yield of 2.0%.
Before it’s here, it’s on Smartkarma
