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Canon Marketing Japan shares extend gains as brokerage initiates coverage with top rating
Canon Marketing Japan Inc. <8060> climbed for a third straight session. SMBC Nikko Securities initiated coverage of the stock on the 15th with a top rating of "1" on its three-tier scale and set a target price of 4,150 yen. The brokerage praised the firm’s evolution into an IT services provider leveraging the existing Canon sales network. It forecasts that the expansion of the IT solutions segment will improve both revenue and profit margins, with net profit projected to grow at a compound annual growth rate (CAGR) of 5.3% over the next five years.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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