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Investing.com - UBS has upgraded H.I.S. Co., Ltd (9603:JP) (OTC:HISJF) from Sell to Neutral while lowering its price target to JPY1,500.00 from JPY1,600.00.
The rating change comes as UBS revised its forecasts, raising estimates for operating profit and minority interests from overseas subsidiaries, while simultaneously reducing FY10/25-27 EPS forecasts by 1-6%.
Based on booking status for the Q2 (February-April) summer holiday season, UBS believes the company’s full-year operating profit guidance is achievable.
UBS noted that Japanese outbound travelers reached only 70% of pre-COVID levels in January-March 2025, but this figure is recovering gradually.
The firm cited limited downside risk for the share price, pointing out that the price-to-earnings ratio based on UBS forecasts has declined to the bottom of the past 10-year range.
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