KOITO MANUFACTURING rises for third day after major domestic brokerage initiates coverage with '2' rating
KOITO MANUFACTURING CO.,LTD. <7276> rose for a third straight session. Daiwa Securities initiated coverage on the stock on April 21 with an "Outperform" rating (2 on a five-point scale) and a target price of 3,000 yen. The brokerage expects Koito’s automotive lamp business to become a stable revenue base, driven by the full-scale adoption of Adaptive Driving Beam (ADB) headlamps and expanding added value.
Daiwa noted that downsizing in China and Europe has leveled off, with growth in the Americas and Asia expected to drive sales. The firm also anticipates aggressive capital policies, including shareholder returns, which alongside profitability gains should improve ROE. On the same day, the brokerage also initiated coverage on Stanley Electric Co.,Ltd. <6923> with a "Neutral" rating (3) and a target price of 3,300 yen.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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