Powell Industries: Expensive on the surface, but a $1.6B backlog makes a tactical long attractive
Powell Industries (POWL) looks richly valued today at roughly $9.9B market cap and a P/E near 53, but a $1.6B backlog, double-digit order growth and near-net-cash balance sheet reduce execution risk. For disciplined traders I see a mid-term (45 trading days) long setup with a clear entry, stop and target that balances upside from backlog conversion…