Ajinomoto initiated with an Outperform at Bernstein

Bernstein initiated coverage of Ajinomoto with an Outperform rating and 7,200 yen price target. The analyst says “intrinsically differentiated consumer brands the world over” are able to command and sustain superior pricing, and they tend to outgrow the competition. Nissin, Ajinomoto and Kikkoman rank among the most Intrinsically differentiated food brands in Japan, the analyst tells investors in a research note.