Goldman Sachs upgraded Furukawa Electric (FUWAF) to Buy from Neutral with a price target of 23,000 yen, up from 10,300 yen. The company reported “strong” Q3 results, and provided an outlook for continued robust operating performance, the analyst tells investors in a research note. The firm added that the company is at a stage where it is catching up in high-performance copper foil, where it had lagged for AI applications, and is seeing overlapping growth from areas like liquid cooling thermal products.
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