ICL Group (ICL) is an innovative Israeli company providing specialty chemicals…especially those focused on potash and phosphate which are most often used in the agricultural field. They have enjoyed tremendous growth over the past years with the share price rising 4X from the 2020 lows to 2022 highs.
However, since making those highs early in 2022 shares have endured an unnecessary beating thanks to the bear market environment throwing all babies out with the bathwater. This provides value seekers a great opportunity to get on board a thriving growth company with tremendous upside potential.
Let’s dig into the fundamental story.
Yes, commodity prices for potash and phosphate have peaked. Yet that doesn’t mean there is not tremendous demand…or tremendous opportunity to keep growing profits.
As we look out to next year, they are still expected to produce $1.04 in earnings per share. Amazingly at this moment shares are trading just a few ticks above $7. That means shares are being valued at only 7X forward earnings. Very cheap in any market environment.
This explains why ICL sports an A for Value in the POWR Ratings. In fact, it is in the top 1% of all stocks in our ratings universe. And this likely explains why analysts see shares having nearly 100% upside opportunity in the year ahead.
Bear markets provide a great opportunity to stock up on tremendous companies at discounted prices. That is exactly the special opportunity I see unfolding for ICL at this time.
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ICL shares were trading at $7.37 per share on Friday afternoon, down $0.01 (-0.14%). Year-to-date, ICL has gained 0.82%, versus a 6.51% rise in the benchmark S&P 500 index during the same period.
About the Author: Steve Reitmeister
Steve is better known to the StockNews audience as “Reity”. Not only is he the CEO of the firm, but he also shares his 40 years of investment experience in the Reitmeister Total Return portfolio. Learn more about Reity’s background, along with links to his most recent articles and stock picks. More...
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