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ZENKOKU HOSHO rebounds as domestic brokerage upgrades investment rating
ZENKOKU HOSHO Co.,Ltd. <7164> rebounded. SBI Securities upgraded its investment rating to "buy" from "neutral" on May 18 and raised its target price to 3,600 yen from 3,150 yen, which acted as a positive catalyst.
According to the brokerage, despite rising mortgage interest rates, there are no signs of a slowdown in new mortgage applications or early prepayments, and growth in mortgage loan balances remains solid. Given expectations for inorganic growth through financial institutions' risk transfer outsourcing and improved asset management returns, net income is projected to grow by about 5% year-on-year from the next fiscal year onward.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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