Engaged Capital says ‘compelling idea’ NCR Voyix trades at extreme discount

Activist investor Engaged Capital named NCR Voyix (VYX) as a “compelling investment idea.” Engaged Capital said in a presentation at the Bloomberg Activism Forum 2024 that it believes NCR Voyix trades substantially below fair value, restaurant competitive concerns are overblown and that it sees significant upside from current prices. Trading just at the bottom end of peer valuations would result in almost a double, it says, adding that it sees potential for a 95% upside.