bearish
Feng Tay Enterprise: Risks from Higher Inventory at Nike & Unattractive Valuations
319 Views27 Jul 2023 01:01
SUMMARY
- We are negative on Feng Tay Enterprise's share price in the next 6-12 months mainly due to inventory/margin concerns at its largest customer Nike combined with unattractive valuations.
- In the next several months, we think there is a higher probability of Feng Tay's share price underperforming versus Nike.
- Feng Tay Enterprise is one of the largest global OEM/ODM companies that specializes the design and manufacturing of footwear. Nike is one of the largest customers of Feng Tay Enterprise.
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