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Investing.com - Jefferies has upgraded THK Co Ltd . (T:6481) (OTC:THKLY) from Underperform to Hold, while significantly raising its price target to JPY3,800.00 from JPY2,100.00.
The upgrade comes despite Jefferies acknowledging continued risks to THK’s earnings related to tariff issues expected in fiscal year 2025.
Recent order trends have led Jefferies to reassess its previous outlook, with the firm concluding that its sales and profit forecasts for fiscal years 2026-2027 had been "overly pessimistic."
Jefferies specifically cited THK’s execution of increased shareholder returns and high dividend yield as factors that will support the company’s share price performance going forward.
The new price target, based on Jefferies’ revised profit forecast, indicates "limited downside from recent share price," which factored into the firm’s decision to upgrade the stock to a Hold rating.
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