Goldman Sachs analyst Yuichiro Isayama upgraded NSK Ltd. to Buy from Neutral with a price target of 1,050 yen, up from 710 yen, mainly to reflect forex trends and stronger-than-expected FY3/23 results. NSK’s announcement that it had concluded agreements to convert an unprofitable business into an equity-method affiliate and that it would work to improve shareholder returns/capital gains was “arguably one of the major surprises” of the recent earnings season and “we think that story still has legs,” the analyst tells investors.
Published first on TheFly
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