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KDDI downgraded to Underperform from Hold at Jefferies

KDDI downgraded to Underperform from Hold at Jefferies

Jefferies analyst Atul Goyal downgraded KDDI to Underperform from Hold with a price target of 4,110 yen, down from 4,700 yen, after the company announced plans to buy a 50% stake in Lawson. The firm sees such “unrelated-business” acquisitions as a negative.

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