JAPAN ELEVATOR SERVICE rises for first time in 12 days as domestic research firm raises target price to 2,500 yen
JAPAN ELEVATOR SERVICE HOLDINGS CO.,LTD. <6544> shares rebounded on Monday for the first time in 12 sessions. On Friday, Tokai Tokyo Intelligence Laboratory raised its target price on JAPAN ELEVATOR SERVICE shares to 2,500 yen from 2,380 yen, while maintaining its "Outperform" rating, the highest on its three-level scale. The firm is an independent operator providing maintenance and upkeep for elevators and escalators. The research firm cited continued growth in maintenance contracts and renewal projects driven by increased staffing. While JAPAN ELEVATOR SERVICE projects a consolidated operating profit of 13.00 billion yen for the fiscal year ending March 2027, up 18.1% year-on-year, the laboratory forecasts an upward revision to 13.70 billion yen. The laboratory anticipates that cost-cutting awareness will intensify among office building owners and commercial facilities amid inflation, and that renewal sales will grow as the number of elevators in operation for 20 to 30 years rises.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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