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Horiba upgraded to Buy from Hold at Jefferies

Jefferies analyst Masahiro Nakanomyo upgraded Horiba to Buy from Hold with a price target of 16,000 yen, up from 15,000 yen. Horiba expects improvement in market conditions in the semiconductor business and while new businesses are not yet contributing to earnings, the company outlined “clear strategies” at its IR day on June 26, the analyst tells investors.

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