Goldman Sachs analyst Yuichiro Isayama upgraded Makita to Buy from Neutral with a price target of 5,300 yen, up from 4,800 yen. The company’s production adjustments “are finally coming to an end,” and production trends are returning to normal mainly in the European market, the analyst tells investors in a research note. The firm says a return to normal profit levels could drive a re-rating of the shares.
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