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Investing.com - Goldman Sachs has reinstated coverage on Seven & i Holdings Co Ltd (TYO:3382) (OTC:SVNDF) with a Neutral rating and a price target of JPY2,100.00.
The reinstatement follows a period of business portfolio transformation at the Japanese retail conglomerate, which has increasingly focused on convenience store operations in Japan and the United States over the past few years.
Goldman Sachs analyst Sho Kawano indicated that while the firm takes a positive view of the company’s strategic shift toward convenience stores, uncertainty remains regarding specific changes to management strategy and execution pace under the new leadership team.
The investment bank noted that investors are still waiting for greater visibility on how the ongoing portfolio transformation will contribute to the company’s earnings performance.
In its analysis, Goldman Sachs examined three key factors: the business transformation itself, the firm’s view on the transformation and earnings outlook, and potential factors that could lead to a more bullish stance on the stock in the future.
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