Harman International Industries, Inc./DE/ (NYSE:HAR)
CAPS Rating:
The Company designs, manufactures and markets audio products and electronic systems for the automotive, consumer and professional markets.
The Company designs, manufactures and markets audio products and electronic systems for the automotive, consumer and professional markets.
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Recs
The stock took a hit because of its exposure to the car industry. But as we've seen with AXP's results, the more affluent customers are still spending. Harmon Kardon's equipment is found in BMW's, Lexus's and Audi's. We've also seen auto parts suppliers report better than expected results recently. Finally, if private equity players tried to buy these guys out at 120 a share, I doubt the shares are worth only a quarter of their value now.