HALISTER1: Mitsubishi Chemical Climbs as JPMorgan Gives Top Recommendation

Mitsubishi Chemical Climbs as JPMorgan Gives Top Recommendation

(Bloomberg) -- Mitsubishi Chemical’s products with additional functions will be a driver for growth, while co.’s cheap valuation is becoming excessively apparent, writes analyst Shogo Umeda in report Friday.
  • Makes Mitsubishi Chemical top recommended stock within the general chemical sector
  • Raises rating to overweight from neutral, PT to 1,100 yen from 970 yen
  • Mitsubishi Chemical climbs as much as 3.3%, most since June 28; trading volume ~30% of 3- month full-day avg
  • 8 buys, 5 holds, 1 sell; avg PT 1,059 yen: Bloomberg data
  • Shares +28% YTD vs +16% for Topix Chemicals Index
To contact the reporter on this story: Yuko Takeo in Tokyo at ytakeo2@bloomberg.net To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net Naoto Hosoda

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
4188 JP (Mitsubishi Chemical Holdings Corp)

People
Shogo Umeda (JPMorgan Securities Japan Co Ltd)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283