Analyst Lisa Jiang of Morgan Stanley maintained a Hold rating on Harmonic Drive Systems, with a price target of Yen3,700.00.
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Lisa Jiang has given his Hold rating due to a combination of factors, including a measured but not spectacular recovery in Harmonic Drive Systems’ core orders. Parent-level bookings have begun to improve year over year and are expected to rise modestly quarter on quarter, yet management itself is guiding only for a gradual normalization rather than a strong cyclical upswing.
Humanoid and collaborative robot demand, while a positive structural theme, is progressing in line with prior expectations and is not yet driving a step-change in growth. The planned expansion of North American production capacity suggests longer-term potential, but near-term visibility remains limited, which in Jiang’s view justifies maintaining a neutral stance on the shares at current valuation levels.
In another report released on March 1, TipRanks – Google also downgraded the stock to a Hold with a Yen4,714.00 price target.