Ajinomoto price target raised to 7,600 yen from 7,400 yen at Bernstein

Bernstein analyst Euan McLeish raised the firm’s price target on Ajinomoto to 7,600 yen from 7,400 yen and keeps an Outperform rating on the shares. The firm expects Ajinomoto’s Functional Materials division to deliver a 43% Business Profit CAGR over the next three years, and contribute over one third of Ajinomoto’s overall BP in FY23/27.