Eastman Kodak’s shares hit a 52-week high on Wednesday. Will the old film company’s stock continue to rise and is it time for investors to dive in? Erik Kolb, Standard & Poor’s shared his analysis on the firm.
“We’ve turned bullish on Kodak—we see a number of improving trends, the biggest one being consumer digital,” Kolb told CNBC.
Kodak has been making headway in areas like inkjet printers, digital cameras and picture frames.
“The story behind a lot of this is also cost cutting,” continued Kolb. “Kodak has undergone multi-year, multi-billion dollar restructuring efforts and it’s starting to bear fruit. It’s an attractive company and it’s very cheaply valued based on our forward estimates.”
Kolb said he sees positive momentum and a turn around on a stock that was “priced for dead for years.”
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Kolb does not own shares of Kodak.