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Investing.com - Nomura/Instinet downgraded Ryohin Keikaku (7453:JP) (OTC:RYKKY) from Buy to Neutral while raising its price target to JPY7,000.00 from JPY6,700.00. The stock has shown remarkable performance, surging 171% over the past year and currently trading at $48.99, near its 52-week high of $50.03.
The downgrade comes despite Nomura’s positive outlook on the company’s earnings growth, with the firm noting that the stock no longer appears undervalued following recent price increases.
Nomura observed that Ryohin Keikaku’s sales in Japan have remained steady, with household goods performing particularly well and apparel sales showing recent improvement. The company has successfully converted new customers into regular ones, especially in health and beauty products.
In China, the firm reported solid sales performance, attributing this partly to new product launches and marketing initiatives. Nomura expects profit margins to continue improving through August 2026 as the company reduces costs of goods sold by increasing in-house production.
The new price target of JPY7,000 represents a price-to-earnings ratio of 32-33 times Nomura’s earnings per share forecast for the fiscal year ending August 2026.
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