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Furukawa Electric rises for third consecutive day to new high as major domestic brokerage raises target price
Furukawa Electric Co., Ltd. <5801> surged for a third straight day, hitting a fresh all-time high. Nomura Securities raised its target price on the stock to 61,500 yen from 48,500 yen on May 25, maintaining its top "Buy" rating. The brokerage revised upward its outlook for Furukawa Electric's water-cooling modules, primarily for data centers, updating its earnings forecast. Nomura believes the market has yet to fully price in the potential of the water-cooling business, while also positively assessing the outlook for optical fibers and cables.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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