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Investing.com - JPMorgan initiated coverage on Minebea Mitsumi Inc. (6479:JP) (OTC:MNBEY) with an Overweight rating and a price target of JPY4,000.00 on Tuesday.
The price target represents JPMorgan’s outlook for the stock through December 2026, reflecting confidence in the company’s growth prospects over the next two years.
JPMorgan cited Minebea Mitsumi’s expansion in its "highly competitive precision technologies (PT) business," which includes ball bearings and rod-end fasteners, as a key factor in the positive rating.
The research firm noted "good visibility" for earnings growth driven by the company’s motors and analog semiconductor businesses, representing diversified revenue streams.
JPMorgan also anticipates growth in mechanical components within Minebea Mitsumi’s semiconductors & electronics (SE) segment beginning in fiscal year 2025.
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