JTEKT extends gains as domestic research firm raises target price to 2,760 yen
JTEKT Corporation <6473> extended its winning streak after Tokai Tokyo Intelligence Lab raised its target price on the stock to 2,760 yen from 2,680 yen on the 31st. The firm maintained an Outperform rating, the highest in its three-tier system.
JTEKT's consolidated business profit for the first quarter (April-June) rose 62.1% year-on-year to 22.746 billion yen. Progress toward the full-year forecast of 90 billion yen for the fiscal year ending March 2027 reached 25.3%, exceeding the three-year average of 17.0%.
Structural reforms and cost reductions in Europe and the U.S. are progressing smoothly, while domestic production of next-generation electric power steering (EPS) systems is gradually ramping up, expanding productivity gains. Tokai Tokyo Intelligence Lab projects JTEKT's business profit for the fiscal year ending March 2027 will exceed guidance, reaching 98.646 billion yen.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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