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Investing.com - Jefferies has upgraded Meidensha Corp (TYO:6508) stock rating from Hold to Buy, while significantly raising its price target to JPY8,000.00 from JPY2,000.00.
The research firm believes Meidensha is entering a "fully-fledged profit growth period" beginning in fiscal year 2026, driven by electricity demand growth and regulatory tailwinds for power transmission equipment.
Jefferies sees potential upside risk of more than 20% to management’s medium-term profit outlook, citing the positive business environment and what it characterizes as management’s conservative approach.
The firm notes that Meidensha should benefit from business opportunities in India, as well as from increasing demand related to artificial intelligence.
The upgrade comes as Jefferies expresses confidence in Meidensha’s growth trajectory in the power transmission equipment sector, supported by favorable market conditions and regulatory environment.
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