In a report published Thursday, Goldman Sachs analyst Ikuo Matsuhashi maintained a Neutral rating on Softbank Corp SFTBF, raising its price target to ¥9,700 from ¥8,900, in light of Alibaba’s value estimate hike.
According to the report, “Based on our SOTP model, a ¥1 tn change to the value of the Alibaba Group would have an approximate ¥180 theoretical price impact.”
Some key points from the report included:
-”We believe the shares are rising partly on new purchases by overseas investors, who have been somewhat passive on Japanese stocks, as they are exposed to Alibaba shares and we expect this trend to continue.”
-”Our new SOTP-based 12-month target price is ¥9,700 (we keep a 15% discount in consideration of SB’s characteristics as a holding company).”
Risks:
-”Chinese internet stocks rising, faster/slower than expected earnings recovery for Sprint.”
Softbank closed Tuesday at $86.43.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
