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Investing.com - JPMorgan has initiated coverage on Murata Manufacturing Co Ltd. (TYO:6981) (OTC:MRAAY) with a Neutral rating and a price target of JPY2,200.00 through December 2026.
The financial services firm expects Murata to experience a year-over-year profit decline in fiscal year 2025, citing a delayed recovery in multilayer ceramic capacitors (MLCC) and loss of market share in the radio frequency front-end module (RF FEM) market.
JPMorgan expressed skepticism about Murata’s ability to recapture RF FEM market share in the short term, pointing to the company’s past execution weaknesses as a limiting factor for a full-scale recovery of fundamentals.
The key question for Murata’s performance, according to JPMorgan, revolves around whether reductions of automotive MLCC inventories will come to an end.
Murata Manufacturing, a major Japanese electronics component manufacturer, is known for producing components used in smartphones, automotive electronics, and other electronic devices.
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