In a report released yesterday, Atul Goyal from Jefferies maintained a Buy rating on SoftBank Corp. (9434 – Research Report), with a price target of Yen234.00.
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Atul Goyal has given his Buy rating due to a combination of factors involving SoftBank Corp.’s recent financial performance. The company reported a third-quarter operating profit of ¥236 billion, marking an 8.5% year-over-year increase and surpassing consensus estimates of ¥230 billion. This growth was largely fueled by the Finance segment, which showed a significant turnaround, and robust performances in the Media and E-commerce segments.
Another contributing factor to the Buy rating is the steady performance of the consumer segment, which posted a 4.5% year-over-year growth in operating profit. Although the Enterprise segment’s growth was slower, the solid overall financial results and maintained full-year operating profit forecast of ¥950 billion reinforce confidence in the company’s direction. Furthermore, the anticipated profits and potential listing of PayPay are seen as important catalysts for future growth.
Goyal covers the Communication Services sector, focusing on stocks such as Nintendo Co, Nintendo Co, and Capcom Co. According to TipRanks, Goyal has an average return of 10.4% and a 66.21% success rate on recommended stocks.