Atul Goyal, an analyst from Jefferies, maintained the Buy rating on Panasonic. The associated price target was lowered to Yen1,835.00.
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Atul Goyal has given his Buy rating due to a combination of factors including Panasonic’s strong performance in the first quarter of FY2026. The company reported a significant increase in operating profit, with a 9% year-over-year growth in adjusted operating profit and a 24% increase in operating profit, despite missing consensus expectations. This growth was achieved even as the top line saw a decline due to the de-consolidation of the Auto segment.
Furthermore, all of Panasonic’s core segments showed profit growth, which supports a positive outlook. Although there are valuation risks associated with the Blue Yonder business, Goyal has accounted for these by applying a 12x price-to-earnings ratio for ex-IRA subsidies, resulting in a lower price target of ¥1,835. This target still represents a 23% increase, justifying the Buy rating.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a Yen1,676.00 price target.