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NS Group rises for third straight day as major domestic securities initiates coverage with top rating
NS Group <471A> rose for the third consecutive day. On the 2nd, SMBC Nikko Securities initiated coverage of the company's stock with a "1" rating, the highest on its three-tier scale. The brokerage set a target price of \1,900. The company is a leading player in the rent guarantee business with top-tier market scale and profit margins. The brokerage highlighted three key points: (1) high profitability and strong cash generation ability, suggesting potential for shareholder returns and external growth; (2) the rent guarantee market is experiencing structural expansion and is well-positioned to benefit from inflation-driven rent increases; and (3) the stock offers attractive valuation with favorable PER and dividend yield compared to peers.
Source: MINKABU PRESS
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