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Investing.com - JPMorgan has initiated coverage on Alps Alpine Co Ltd. (6770:JP) (OTC:APELF) with a Neutral rating and a price target of JPY1,910.00, targeting end-December 2026.
The investment bank notes that Alps Alpine plans to substantially improve profitability in its mobility and sensor & communication segments starting from fiscal year 2026 through fixed-cost reductions, discontinuation of unprofitable products, and expansion of high-value-added products.
Despite these improvement plans, JPMorgan indicates it is "too early to fully factor this in" given the company’s track record of execution issues, which have been persistent for Alps Alpine.
The firm states it currently sees "no changes yet in these two segments that would point to full-scale improvement in profitability from FY2026 onward," leading to its cautious stance on the stock.
JPMorgan is taking a "wait-and-see stance" until it can verify earnings trends following the full-scale launch of new products, concluding that the shares are not currently undervalued.
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