Mitsubishi UFJ reinstated with Conviction Buy at Goldman Sachs

Goldman Sachs analyst Makoto Kuroda reinstated coverage of Mitsubishi UFJ with a Buy rating and 1,010 yen price target. The analyst also added the shares to Goldman’s Conviction List. Kuroda sees potential tailwinds for MUFG from bank lending in Japan and overseas and steady progress in its U.S. corporate clients business. Investors could price in slightly higher profit levels than the previous market consensus, Kuroda tells investors in a research note.