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Investing.com - JPMorgan has initiated coverage on JMDC Inc (TYO:4483) with an Overweight rating and a price target of JPY5,000.00 through December 2026.
The investment bank expects JMDC’s healthcare Big Data segment to continue its strong performance, forecasting sales growth of at least 20% year-over-year and an operating profit compound annual growth rate of approximately 25% from fiscal year 2024 through 2029.
JPMorgan notes that JMDC’s share price has been declining due to adjustments in sales expectations for life insurance and weak sales in the pharmaceutical medical affairs division within its core healthcare data business.
Despite these challenges, the firm highlights that sales for JMDC’s pharmaceutical marketing division are expanding rapidly, potentially offsetting weaknesses in other areas.
While earnings consensus and valuations have recently trended upward, JPMorgan sees further upside potential for JMDC, citing structural tailwinds from shifts in the pharmaceutical market over the longer term.
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