Panasonic Holdings hovers near record high as domestic brokerage raises target price

Panasonic Holdings Corporation <6752> surged on Wednesday, hovering near its all-time high after SMBC Nikko Securities aggressively raised its target price on the stock. The brokerage maintained its top "1 (Outperform)" rating on Tuesday while hiking its price target to 5,000 yen from 3,000 yen.

SMBC Nikko expects Panasonic's device sector, driven by its "Energy x Industry" initiative, to enter a growth phase that far outpaces prior expectations. The firm upgraded its earnings forecasts to reflect a changing business environment and the execution of the company's new group growth strategy.

Source: MINKABU PRESS

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