Asahi Group falls for fourth straight day as major domestic brokerage cuts target price, though 'negative factors nearly exhausted'
Asahi Group Holdings,Ltd. <2502> fell for a fourth straight session. SMBC Nikko Securities lowered its target price to 2,000 yen from 2,400 yen on April 21, while maintaining its top-tier "1" rating. The brokerage cited domestic business uncertainty following a cyberattack and a delayed 11% ROE target due to the African business acquisition. However, Asahi Group shares trade near a historical bottom of 0.8 times consolidated PBR, suggesting the stock is significantly undervalued. SMBC Nikko highlighted management's track record of successful expansions in Europe and Australia despite initial market skepticism. The firm believes negative factors are largely priced in and expects a turnaround for the brewer.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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