Asahi Group price target raised to 8,000 yen from 7,700 yen at Bernstein

Bernstein analyst Euan McLeish raised the firm’s price target on Asahi Group to 8,000 yen from 7,700 yen and keeps an Outperform rating on the shares. time. The firm notes Asahi is already making good progress along its restructuring journey kicked off in 2021, and the creation of a Global Procurement organization marks an important incremental step, which Bernstein views as the precursor for further global integration initiatives. The firm expects Asahi to deliver its $100M Global Procurement savings target 12-18 months ahead of the FY28 plan, and expects the total value to exceed the plan by 30%+.