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Investing.com - Goldman Sachs has initiated coverage on Food & Life Companies (3563:JP) with a Buy rating and a price target of JPY9,500.00 on Monday.
The company operates Japan’s largest conveyor belt sushi chain Sushiro and is currently expanding its presence overseas, primarily in Asian markets.
Goldman Sachs highlighted Food & Life’s competitive advantages, including its high level of automation in operations and economies of scale in procurement through group-wide purchasing, which the firm expects will support sustained sales and profit growth.
The investment bank noted that Food & Life maintains high profitability and asset turnover, resulting in an operating ROA that exceeds its Japanese restaurant industry peers.
Goldman Sachs described Food & Life as a "rare company among consumer-related stocks" that demonstrates potential for medium to long-term growth both domestically in Japan and in international markets.
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