Seven & i Holdings downgraded to Buy from Conviction Buy at Goldman Sachs

Goldman Sachs analyst Sho Kawano downgraded Seven & i Holdings to Buy from Conviction Buy with a price target of 6,900 yen, down from 7,300 yen. The analyst is citing short-term risk for gasoline earnings and the possibility of the company focusing on shareholder returns from FY25. The firm remains positive from "medium-term perspective" however, stating that the volatility of CPG suggests that the gasoline business could take only a few months to retrace the January-February decline.