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Investing.com - Nomura/Instinet downgraded JX Advanced Metals (5016:JP) from Buy to Neutral on Thursday, while simultaneously raising its price target to JPY1,800.00 from JPY1,320.00.
The downgrade comes despite Nomura raising its profit forecasts for JX Advanced Metals for the period starting March 2026. The firm cited the stock’s reduced undervaluation following significant share price appreciation as the primary reason for the rating change.
JX Advanced Metals has seen its share price rise 32% over the past three months, outperforming the Russell/Nomura Large Cap Index by 22%. Nomura attributes this performance to increased expectations for profit growth in the semiconductor materials segment, particularly from AI server-related products.
Additional factors supporting the stock’s recent performance include benefits from yen depreciation and rising copper prices in the metals and recycling segment. Nomura’s revised profit forecasts reflect updated assumptions for foreign exchange rates and copper prices.
Nomura indicated the stock could attract renewed investor interest if margins improve through price revisions driven by strong demand for AI server-related products where the company maintains high global market share, or if product demand experiences another sharp increase.
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