HALISTER1: Toyota Tsusho Falls as Goldman Sees High Valuations, Cuts Rating

Toyota Tsusho Falls as Goldman Sees High Valuations, Cuts Rating

(Bloomberg) -- Market expectations for a major dividend hike in year ending March 2018 appear to have helped fuel 22% increase in share price over six months, and valuations are high, analysts led by Hiroyuki Sakaida write in report dated June 2.
  • Cuts to sell from neutral, lowers PT to 2,950 yen from 3,000 yen
  • Expect Toyota Tsusho to underperform rest of Goldman’s trading co. coverage
  • Shares sink as much as 4.4%, most since April 13
  • 5 holds, 2 sells; avg PT 3,222 yen: Bloomberg data
To contact the reporter on this story: Yuko Takeo in Tokyo at ytakeo2@bloomberg.net To contact the editors responsible for this story: Vivek Shankar at vshankar3@bloomberg.net Jonathan Annells

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
8015 JP (Toyota Tsusho Corp)

People
Hiroyuki Sakaida (Goldman Sachs & Co)

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