Toyota Boshoku Gains 7.9%; Goldman Positive on Restructuring
(Bloomberg) -- Toyota Boshoku rises as much as 7.9%, highest intraday since Feb. 5 after Goldman upgraded stock to buy vs neutral, positive on Europe/U.S. restructuring.
- Domestic production at main customer Toyota Motor is rising on new model benefits, Aichi Steel impact has now largelly ended: Goldman analyst Kota Yuzawa
- Sees 5b yen profit boost in FY3/17
- Feb. 4 announcement that co. won’t release net profit guidance “marked an end to negatives”
- YTD performance: Toyota Boshoku -21% vs Topix index -14%, Topic Transportation Equipment index -21%
Alert:
HALISTER1Source: BFW (Bloomberg First Word)
Tickers 3116 JP (Toyota Boshoku Corp)
People Kota Yuzawa (Goldman Sachs Group Inc/The)
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